There will an economic recession in the United States if President Donald Trump does not end the ongoing trade impasse with China, a strategist told CNBC on Monday.
Chinese and U.S. officials have gathered in Beijing this week to discuss solutions that will prevent further U.S. tariffs on Chinese goods. Both countries have been at odds regarding their trade policies for most of last year, with President Trump repeatedly announcing new tariffs on Chinese goods and Beijing retaliating at the same scale.
In early December, the U.S. and China agreed to a temporary 90-day ceasefire to allow their negotiating teams to come up with an agreement on trade practices. They have given themselves until March to do so.
However, in case they fail to reach a deal, a strategist believes it would spark a recession.
"If there is a recession and a crash, it is Trump's decision, because he has made a crucial mistake here of closing the government at the same time he hasn't resolved China," Michael Harris, founder of Cribstone Strategic Macro, told CNBC's "Squawk Box Europe."