President Donald Trump is painting a false picture of a U.S. economy unaffected by his trade war with China and other countries. He describes a blue-sky world in which rapidly escalating tariffshave no impact on American consumers even as a raft of businesses and economists say otherwise, chastising those who caution of potential weakness in the economy as partisans.
“Our Country, economically, is doing great – the talk of the world!” he tweeted Sunday.
He’s glossing over the facts. Some economists have put the costs to an average U.S. household from Trump’s pending tariffs on imports from China at $1,000 per year or more, not taking into account the most recent tax hike the president announced Friday of up to 30% on goods. Trump also insisted that economists don’t believe his trade disputes with China could spur recession, but in fact most analysts believe a downturn could start in the next two years.
“Our Country, economically, is doing great – the talk of the world!” he tweeted Sunday.
He’s glossing over the facts. Some economists have put the costs to an average U.S. household from Trump’s pending tariffs on imports from China at $1,000 per year or more, not taking into account the most recent tax hike the president announced Friday of up to 30% on goods. Trump also insisted that economists don’t believe his trade disputes with China could spur recession, but in fact most analysts believe a downturn could start in the next two years.
