US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.

A s China’s export machine sputters under the weight of 145% tariffs, jobs are at risk. Some 16m workers are involved in the production of goods bound for America, says Goldman Sachs, a bank. Nomura, another bank, projects a possible 5.7m job losses in the near term and 15.8m in the long run, as the shock ripples through the economy.