A report suggests that major cities in U.S. will face recession by 2020. Trade disputes between U.S., Mexico, Canada, EU and China are some of the contributing factors for economic slowdown, leading to an uncertain future. Although the Donald Trump administration stated that a partial trade agreement was on the cards with China, but they are yet to come to consensus on the same.
The report also suggested that Midwest witnessed a sharp decline in economy, especially agricultural workers and manufacturers experienced shrink in export markets. On the other hand, Chicago reported an 11.7% decline last fiscal year followed by Minneapolis, which reported a 9.6% decline. Although several cities experienced economic slowdown, the Midwest slowdown was particularly severe.
