There has been a lot of anxiety which has been caused due to the trade war in farmers and business owners; however, the question has been about the overall impact of the trade war on the economy as a whole.
The stock markets had gotten off to a dwindling start when the President had launched a threat on new rounds of tariffs. However, the loyalists of the administration insisted that the concern over the trade war has been blown out of proportion.
Stephen Vaughn who has formerly worked with the trade representative of the president has said that the battles with respect to tariffs of Trump have not been able to sidetrack the economy of the United States which still remains strong.
He said that it should be looked at from a macroeconomic point of view. The levels of unemployment are low, there is no inflation, and the trade numbers are broadly strong so it should be said that the policies have actually been working well and that according to him is why the president is still going on toward that path.
At a rate of 3.5%, the rate of unemployment is at a record low. There was a surge in the hiring in the month of November as there were 266,000 jobs that had been added and the gain of jobs for the two months previously had been stronger than what it was reported initially.
The economic growth has still decelerated. The growth of GDP in the third quarter has barely gone over 2% and it is expected that this is going to further slowdown in the year’s last three months. The factories in Michigan saw a job loss of over 4,000 in the year’s first nine months.
Kelly has been one of the most knowledgeable personalities in the Global Newspaper 24’s Business section team. While she has completed MBA in Finance Degree, she has always demonstrated her core knowledge in business management and affection toward the freedom of expression through words by crafting superlative news reports for all the readers of the Global Newspaper 24 platform. At present, Kelly works as the Head of the Business Department and is responsible for checking all the news reports for readability while adhering to the quality standards of Global Newspaper 24. Kelly is a super-active personality that loves to write news reports on various topics such as mergers & acquisitions, latest product launches, and major business events.