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Raft of woeful forecasts spells an end to Trump’s economic bragging rights

The prospect of trade war with China has receded, but so have hopes of the US economy continuing its 2018 growth rates

There was a sense of relief across global financial markets this weekend after the hardliners among Donald Trump’s trade negotiators appeared to soften their line on import tariffs against Chinese goods.

Treasury secretary Steve Mnuchin and trade representative Robert Lighthizer let it be known that talks last week had been “constructive”, which was taken as code for Beijing virtually capitulating to Trump’s demands.

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