The Swiss bank expects GDP growth to average at 1.1% in 2020. 'The trade war has had a greater effect on the economy than we had expected,' it said.
UBS says that Trump's trade war tariffs will"scorch" US growth in 2020. The Swiss bank's research department said that the tariffs already put in place this year will"likely lead" to a slowdown in the first half of next year. "The manufacturing sector is being hurt, with job growth decelerating," the bank said, adding that retail may likely be hit early in 2020, leading to job losses in the sector. View Business Insider's homepage for more stories.
UBS says that Trump's trade war tariffs will"scorch" US growth in 2020. The Swiss bank's research department said that the tariffs already put in place this year will"likely lead" to a slowdown in the first half of next year. "The manufacturing sector is being hurt, with job growth decelerating," the bank said, adding that retail may likely be hit early in 2020, leading to job losses in the sector. View Business Insider's homepage for more stories.
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