The US economy is very complex which lends itself to many interpretations. It’s been on a fantastic roll for 124 months under bad economic conditions. If the trade deficit and interest rates are reduced, and government spending continues, there is no worry about a recession. Fed Chairman, J Powell has made this statement.
Consumer spending in October has slowed yet unemployment is at a record low 3.5%. It seems, the more a China/US trade deal is curtailed, the better the US economy outlook is.
With China’s economy failing, amidst a global slowdown, they will be dumping cheap products in the US. What’s been lost so far, are big profits for China’s companies.