Growing US Economy Gives More Strength To Trump

Business

President Trump is famous for a blunt economic decision, and so far even though his decision made controversies overall, the country benefited from it. The report shows that the US economy is growing at a faster rate; also, the unemployment rate is getting slowed down. Trump administration managed to add the right amount of jobs for the young American despite going through a trade war with China. Now experts think that growing US economy might give more strength to trump than everyone’s expectations. Recently Feds decided to cut down interest rates because of rising chances of inflation which affected positively on the US economy. Trump is trying to beat China in trade by making things harder for Asian countries. Levying of extra tariffs on Chinese goods and services worth $300 billion is bringing lots of revenue to the country. Recently economists predicted that the US might get into the recession before 2020 re-election. Trump is getting criticized for starting a trade war which is impacting on the domestic market of retailers.

However, now since the economy is growing Trump’s strength in an ongoing trade war with China has increased. Both countries are trying to get ahead of each other in deadly trade dispute but seem like the US is on the winning side. China tried to do the same thing as the US of imposing taxes on US-made products. But, that amount is relatively too small, and that’s why Trump is trying to make things harder for China. So far, Chinese government had to take important decision of bailing out small business from the domestic market. The expert said that China needs this trade deal than the US, which makes Trump here more powerful. Recently both countries officials said that they are going to meet for trade talks in October. But whether there is going to be a trade deal or not is the primary question.

Leave a Reply

Your email address will not be published. Required fields are marked *