The President of the United State, Donald Trump, took it to twitter again and boasted about how the economic stand their country is in; according to President Trump, the “business spirit” is looking to be chart topping this time. Analysts are looking in the context of his tweets and slam the statement for lacking proof and factual evidence.
Just moments after Trump’s swearing for his new chief of staff, he had already tweeted on how his administration has made the US economy on a better position. The last six months of his regime has really been expressed on his Twitter account, but this time he mentions a new measuring tool called “business spirit”.
According to Trump; "Business spirit is the highest it's ever been, according to polls," and “Highest stock market ever, best economic numbers in years, unemployment lowest in 17 years, wages rising, border secure, SC: No WH chaos!”
Those are the statement he left off to start this week off; analysts are quick to fact check on what is real and what are imaginary. According to several analysts, the current pace the economic growth rides in as at a mere 2% for the first 6 months of his presidency. The current pace has a denting 1% decrease in his promised 3% pace on his
Also, according to Trump, the “Highest stock market ever, best economic numbers in years, unemployment lowest in 17 years, wages rising…” this a well-known fact, but the stock market has reached a peak performance under the administration of President Obama and been bolstering ever since. The unemployment rate was also running on Obama’s tailwind, and the country’s wage hasn’t been going up but it is currently under immense pressure and grows weaker.
The US Fights Distortion Caused by China
On a recent announcement, the United Trade representative noted that they are currently combating the distortion made by the Chinese Economy; this is wildly known in the market for steel and aluminum. In a report by the USTR they said that “The international steel and aluminum markets, for example, are currently experiencing significant oversupply due in large part to production from excessive and uneconomic capacity in China,” and “This oversupply has caused severe market distortions, including the suppression of U.S. and global prices, and the displacement of U.S. exports in foreign markets.”
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