But many economic analysts also predict the recent economic boom will soon fizzle, with growth plunging below two percent by 2020, according to an analysis by S & P chief U.S. economist Beth Ann Bovino. Currently, the economy is growing at a rate of 3.5 percent. That squares with cyclical trends suggesting the U.S. is due for an economic downturn soon.
Compounding the worry is Trump’s trade showdown with China, which poses a risk to the global economy. Over dinner at last weekend’s G-20 summit, Trump and Chinese President Xi Jinping agreed to pause their escalating trade fight for 90 days as they search for a long-term agreement. But since then, Trump has shaken markets with bellicose trade talk.
That means stress for Trump aides and allies planning a 2020 message they hope to build, in part, around economic growth and greater prosperity for Americans. Former presidents Ronald Reagan, Bill Clinton and, to a lesser degree, Barack Obama all vaulted to reelection with the help of an growing economy. The last one-term president, the late George H.W. Bush, is widely considered to have been doomed by a recession which struck midway through his tenure.