Forecasters anticipate President Donald Trump’s trade war will hit economic growth this year and next as tariffs push prices higher and put a dent in consumer spending. The US economy is set to expand 1.

Before they become couches, bags and shoes, U.S. cattle hides often travel through factories on multiple continents. American leather companies are rethinking their options.

Nobel Prize-winning economist — has issued a significant warning that is drawing increasing attention. He believes the United States is likely heading toward a recession, citing the disruptive effects of unpredictable tariff policies implemented under President Donald Trump.