‘US economy faces damage from trade war’

WASHINGTON, D.C.: The two-year trade conflict between the United States and China “likely” left deep, “lost-lasting” marks on the American economy, even with the recent agreement to defuse the situation, a Federal Reserve (Fed) official said on Monday (Tuesday in Manila).

The outbreak of the new coronavirus in China adds another risk factor to the outlook, which otherwise seemed poised to provide steady growth, said Loretta Mester, president of the Federal Reserve’s regional bank in Cleveland.