Washington – Washington (AP) – President Donald Trump on Wednesday received worrying news about how the US economy landed for a possible fall from its tariff – and he tried to blame his Democratic predecessor Joe Biden.
The government has said that the US economy has shrunk at the rate of 0.3% annually in the first three months of the year. The import of the fall was incentive because companies tried to drive the front of auto, steel, aluminum, and obvious tariffs in almost every country. Even positive symptoms of increased domestic cost indicate that purchases can occur before raising prices before import tax.
In response to the Gros domestic product report, Trump raised his finger towards Biden on Wednesday morning.
The Republican President, who took over in January, posted on his social media site, “This is not Trump,” is Biden’s stock market. “The tariffs will start kicking soon, and companies have begun to go to the United States in record numbers. Our country will increase, but we have to get rid of ‘overhang’. It will take some time, the tariff has nothing to do with.”
However, the GDP report claims that the Democrats’ ammunition claimed that Trump’s policies could diminish the economy.
“Trump has been in the office for only 5 days, and expenses, chaos and corruption are already increasing,” Sen Jeff Merkeley, said D-Ore. “The economy is slowing down, prices are rising, and middle -class families are feeling the pinch.”
Trump has landed the report that Trump is trying to focus on new corporate investment because he is spending the week to celebrate his 100th day in the office. He planned to comment on the matter after day.
Trump’s economic message argued some conflict and rejected the red flag raising data.
He wanted credit for aggressive achievement in the White House first 100 days in which federal workers were extensively trimmed and start a trade war with 145% of the new tariff against China. He also wants to blame the negative reaction of the financial markets of Biden who left the office a few months ago. He also says that his tariffs are to discuss equipment to generate trade agreements, but at the same time banking is banking a few hundred billion dollars of tariffs to help deduct his planned income tax.
Trump highlighted the positive aspects of the GDP report at the cabinet meeting on Wednesday. The meeting, however, has unknowingly revealed how his administration is trying to make credit for the Biden administration because Commerce Secretary Howard Lutnik Taiwan semiconducting Co’s computer chip has talked about traveling to his recent Arizona to visit the factories.
TSMC notes on his website that the Coronavirus epidemic was disrupted in the global economy during Trump’s first president, announced his first plant in Arizona. It announced a second factory in December 2022, when he was in the Biden office. After the Bilateral Chips and Science Act has been committed in 2021, the TSMC has announced a third plant plan.
Trump rejected the importance of the government that made Biden the support that made it possible to open the computer chip factories natively.
Trump said “they are making for tariffs.”
Asked about his tariff, Trump told ABC News on Tuesday that if he did not impose imports on allies including European Union, Canada, Mexico, Japan, South Korea and India, the economy would have finally been initiated.
Trump assured, “Everyone will be fine.”
The Democrats’ statement after the GDP report states that the economy, which is still a healthy 1.2% unemployment rate, seems to have lost speed at a few weeks.
“Within 7 days, President Trump has taken the US economy to the negative GDP from a strong, stable growth,” said Hider Bosh, a former member of Biden’s White House Council of Economic Advisor. “This wonderful twist of fate is directly due to the incompleteness of its economic principles and more commonly due to the disorganization of the federal policy.”
However, White House trade adviser Peter Navaro told reporters that the GDP drop was a “one-shot agreement” because of increased imports, which mathematically subtract economic activities. Navaro said that Trump’s planned person and business income tax would help the growth in the months ahead.
Navaro said, “What we see is good, powerful news.” “So the idea that the recession is coming is heavily exempted.”
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