President Donald Trump faces a number of major decisions on trade and the budget in the coming months just as the US economy faces the biggest head winds of his tenure, forcing him to decide whether to recalibrate as recession fears mount for next year.

Trump has threatened to escalate trade conflicts with China, Mexico, the European Union and Japan, spooking business leaders and leading some to pull back investment. Similarly, budget and debt-ceiling talks with congressional leaders from both parties have sputtered, raising the possibility of another government shutdown in October.

The uncertainty - and a cooling global economy