The only tool he has to placate US consumers is successive interest rate cuts – but the whole world is playing at that gameDonald Trump’s cunning plan to make America great again by launching a trade war with China has officially backfired. Last week, a keenly watched measure of US manufacturing showed firms cutting back on production and jobs at a rate not seen since 2009. Recession warning lights are flashing and the outlook seems a world away from the cheery one presented by the president when he entered the White House in 2017.It is quite something for a president to impose a trade policy that weighs heavily on parts of a crucial sector for the US economy – and it’s a bizarre tactic given that the votes of manufacturing workers delivered him his first term in office. Continue reading…
Source link : https://www.theguardian.com/us-news/2019/oct/06/trump-trade-policy-china-us-jobs-interest-rates
Author : Guardian Staff
Publish date : 2019-10-06 07:45:07
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