"in the U.S." or "of the U.S."?

Dear teachers,

It would be appreciated if you could let me know which one is natural between the following two sentences:

(a) With the economic recession in the U.S., Korea's economic growth rate will drop below 4%.

(b) With the economic recession of the U.S., Korea's economic growth rate will drop below 4%.

Is thare any difference between "With the economic recession in the U.S." and "With the economic recession of the U.S."?

I look forward to hearing from you soon.

Thanks and best regards,

David Kim