Tag: Trump economic policy

Amid Recession Worries, Trump Points Finger at American Businesses

New York Times logoWASHINGTON — President Trump wants Americans to understand that the economy is doing great, thanks to him. But if in fact the economy sours, then it is someone else’s fault.

Mr. Trump’s Blame List is long. On top, of course, is Jerome H. Powell, the chair of the Federal Reserve — never mind that Mr. Trump was the one who appointed him. Then there are the Democrats, and not to mention the news media.

And on Friday, the president added American businesses to the list, arguing that struggling companies have only themselves to blame and are rationalizing their own mistakes by pointing to, just to name an example, Mr. Trump’s multibillion-dollar tariffs and America’s biggest trade war in generations.

View the complete August 30 article by Peter Baker on The New York Times website here.

If the Trade War Starts to Damage the Economy, Here’s How You’ll Be Able to Tell

The following article by Neil Irwin was posted on the New York Times website July 24, 2018:

Early indicators include executive surveys and futures markets.

A flag near a field of soybeans in Tiskilwa, IL early this month. Credit: Daniel Acker, Reuters

There’s no question that some American companies are feeling the bite of the trade war that the Trump administration is waging against much of the world.

As others have reported, a Missouri nail factory is laying off peoplebecause of tariffs on imported steel; Harley-Davidson plans to move some production to Europe in response to retaliatory tariffs; soybean farmers face a loss of income resulting from new Chinese import taxes.

But it’s a mistake to assume that difficulties of individual companies and industries are the same as a force powerful enough to bend the overall trajectory of the United States economy.

View the complete article here.