In his 2019 economic forecast, RSM US Chief Economist Joe Brusuelas made the case that trade policy was the greatest risk to the global and domestic economic outlook. At the time, he expected passage of the North American Free Trade Agreement modernization by Congress early in the year and a possible roll back of the trade spat with China. That optimistic forecast has been diminished by a lack of action on the ground and a rapid deceleration of both U.S. and global growth prospects.
In this month’s issue of The Real Economy, Brusuelas assesses the rising risks of delayed trade agreements on middle market businesses and takes a closer look at the impact of steel and aluminum tariffs.
In addition, we introduce a new featured article called Industry Spotlight. The biotech industry will be our focus in this issue as we explore its insatiable need for cash in a hesitant market. We also offer our monthly update on growth using our RSM US Real GDP Index.
Read the full report, available on RSMUS.com, on Thursday, May 11.