"The Tariffs Are Just a Sideshow": A Year-End Look at the U.S. Economy

Kevin Depew, deputy chief economist and industry eminence program leader for RSM US LLP, spoke with Middle Market Growth about recent trade developments and the underlying issues impacting U.S. economic growth. The U.S. recently agreed to a "phase one" trade deal with China and signed the USMCA with Canada and Mexico to replace the North American Free Trade Agreement. Depew explained what those deals mean for the U.S. economy and midsize businesses in the year ahead. He also addressed challenges beyond trade, including the tight labor market and the reluctance of U.S. businesses to make much-needed productivity-enhancing investments. Uncertainty caused by the trade war and the 2020 U.S. presidential election have made business leaders cautious, a sentiment reflected in RSM's latest Middle Market Business Index, published on Dec. 19. Depew discussed the MMBI's findings and what they reveal about how middle-market leaders are planning for the future. The full index is available at rsmus.com/economics/rsm-middle…ness-index-mmbi.html To read more about trends in the middle market, visit MMG's website, middlemarketgrowth.org.

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The Middle Market Growth Conversations podcast features in-depth interviews about trends impacting midsize companies and M&A. Guests include middle-market dealmakers, business leaders, economists and other experts involved in mergers and acquisitions and corporate growth. Interviews address topics ranging from private equity investment strategies, to state-of-the-market overviews, operational best practices, and much more. The podcast is part of Middle Market Growth, the Association for Corporate Growth’s official publication, available at http://www.middlemarketgrowth.org.