Skip to content
Photographer: Luke Sharrett/Bloomberg
economics

The Trade War Has Already Caused a Recession for America’s Factories

The Trade War Has Already Caused a Recession for America’s Factories

US jobs small business factory
Photographer: Luke Sharrett/Bloomberg

Subscribe to Stephanomics on Apple Podcasts
Subscribe to Stephanomics on Pocket Casts

Stephanie Flanders, head of Bloomberg Economics, returns with a new season of the Stephanomics podcast, bringing on-the-ground insights from Bloomberg's reporters and economists into the forces driving the global economy. On this week's episode, senior trade reporter Shawn Donnan heads to the front lines of the US-China trade war in Wisconsin, and Stephanie talks through its global impact with Penny Goldberg, chief economist at the World Bank.

One silver lining to all this, says Goldberg, is that more attention is finally being paid to trade policy. She also discusses whether this period will mark the high point for globalization - and confirms the suspicions of manufacturers that Shawn spoke to out in the field, who believe that they are paying the tariffs - not China, as claimed so often by Donald Trump.