Ridiculous as it might sound, US President Donald Trump appears to love and enjoy trade war pretty much. One of his ‘masterpieces’ is the relentless US-China trade war.
At first, President Trump’s move to set the trade war in motion hurt its opponent, China, so badly. However, as time goes by, the US is starting to conspicuously feel the impact.
The unflagging US-China trade war has been jeopardizing global economy since President Trump embarked on an ‘excursion’ to start one. The report on the foregoing is in line with a report by The Organization for Economic Cooperation and Development (OECD) on September 19.
However, this does not weaken Trump’s confidence to prolong the seemingly detrimental trade war. This decision, as many opined, has engulfed Washington in additional, arguably unnecessary problems besides its own economy slowdown.
Recently, US manufacturing sectors have not displayed pleasant results. In addition, this month’s performance is considerably the worst since June 2009.
Additionally, The New York Federal Reserve’s GDP growth forecasting model was down to 1.3% for the fourth quarter. This contradicts the earlier forecast of 1.8%.
Fortunately, the 13th negotiations of US-China trade war will take place soon. If the negotiations are able to put an end to the unwavering dispute, this might safe US economy. This is so for China has become US advantageous trade partner since 2001.
Also Read: Today’s Stock: Europe Fell; No Progress on U.S.-China War
Trump and Trade War
The calamitous trade war truly menaces US economy. Also, the latest Federal Reserve’s policy to cut rates appears to further the damage to the country’s economy so far.
That said, since the economy has been suffering from legion problems, the Fed alone won’t be able to save the economy. However, Trump can.
If Trump were able to end this dynamic trade war in which he should not have started in the first place, he would notably assist the recovery of the country’s economy. Also, the US, and probably the world, might have seen him as a hero for contributing to end the global economy slowdown.
As good as it might seem, this might not happen in the near future. This is so for, despite battling China in the tireless trade war, the US is apparently starting a new one against the European Union.
If this truly happened and were about to continue, the US might have to write another chapter on its economic downfall on their history books.
Also Read: Asia Companies are Moving Home as The Trade War Continues
