Senator Pat Toomey (R-PA) said Thursday he does not think the United States is “heading to a recession any time soon.”
In his interview on CNBC’s “Squawk Box,” Toomey voiced his concern with beginning a new trade war, saying the country “ought to be working hard” to end existing trade wars.
“The combination of adverse trade developments and uncertainty about where we are going on trade has had a chilling effect on corporate investment,” Toomey explained. “That seems to be the area that’s leading the deceleration.”
He added, “So, I don’t think we are heading to a recession any time soon, but we don’t need a new trade war, we don’t need a new front on existing trade wars. We ought to be working hard to get those resolved I commend the administration for making progress with Japan on expanding trade. We should really try to avoid a big trade war with the European Union.”
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