Fears that the President’s Trump’s trade war with China will lead to a recession may have faded from the headlines, but economists say it cannot be discounted.

“We’re not expecting a recession anytime soon, but, that said, there are a number of headwinds, ranging from slower growth, trade tensions, a gradual erosion of confidence in the private sector, and gradually slowing employment gains, among other policy risks, that could push us towards an environment that could potentially be recessionary,” said Gregory Daco, chairman of the National Association for Business Economics’ Outlook Survey.