FAST FIVE: 69% Of US CFOs Believe That A Recession Will Start "By The End Of 2020"
Most economists in that report cited protectionist trade policy as the leading risk to the US economy.
So many US companies are now operating under the assumption that this trade war will be here for the long haul. For example, the following comes from an opinion piece that Canary CEO Dan K.
China's government recently released a white paper on the trade standoff that makes it clear Beijing is not giving in to US demands anytime soon.
We still depend on China for a significant portion of the wellheads and other steel products used in the oilfields, but it's on the decline.
Our goal is for non-Chinese sources to account for 25% of our international purchases within the year, up from our previous target of 10%.