Donald Trump dodges US recession question as trade war implications dominate markets

Donald Trump has not ruled out a recession in the United States this year, saying the world’s largest economy is in “transition” through his trade war. Financial markets have been spooked by the implications of his early trade fights involving the country’s nearest partners Canada and Mexico through on-off tariffs of up to 25%. China has also been targeted and the European Union could be next, from 2 April, when Mr Trump has promised to ramp up his “America first” ambitions. Money latest: The financial advice the over-50s would give their younger selves The recession question first cropped up a…