Donald Trump is trying to pull off the riskiest high-wire act of his presidency
, threatening to escalate trade battles with Mexico and China even as warnings signals flash about a possible recession arriving just as his re-election campaign begins.
Signals on the direction of the U.S. economy remain mixed. A reading on private payrolls in May showed the smallest gain since 2010. But the official government employment gauge out Friday morning is expected to be better and unemployment remains historically low. Virtually every major economic forecasting firm now has growth downshifting to just below 2 percent in the second quarter of the year as the impact of the tax cut fades and a build up of inventories that boosted first-quarter GDP over 3 percent gets unwound.
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