The White House says it can't see the U.S. recession

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      Larry Kudlow, director of the White House National Economic Committee, said that trade negotiators from the two countries would hold talks within 10 days. "If the talks succeed, we intend to invite China to the United States" for further consultations to discuss ending the trade war, which is a potential risk to global economic growth.
But even if negotiations stagnate temporarily, tariffs are likely to be levied and the world economy faces various other trade constraints, Kudrow said on Fox News Sunday that the United States is still "in good shape".
"There is no sign of recession," Kudrow said. "Consumers are working. Their salaries are rising. They are spending and saving.
U.S. President Trump said the U.S. will not do business with Huawei "for national security reasons," and the decision will be announced Monday.
The previous week's market turmoil began to affect financial markets amid fears of a U.S. recession, which seemed to worry government officials about whether the economy could stay strong until the end of the presidential election in 2020. The Democratic Party said on Sunday that Trump's trade policy is bringing serious short-term risks.
U.S. stocks fell last week, dragged down by recession fears. The three major U.S. stock indexes closed down about 3% on Wednesday, but recovered on Friday in anticipation of a possible rate cut by the European Central Bank.


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