One Huge Problem With Trump's Promise To Grow The U.S. Economy
7 years, 10 months ago

One Huge Problem With Trump's Promise To Grow The U.S. Economy

NPR  

One Huge Problem With Trump's Promise To Grow The U.S. Economy Enlarge this image toggle caption Rob Smith/Getty Images Rob Smith/Getty Images On paper President Trump's newly unveiled budget proposal is balanced. But that's predicated on an extraordinarily rosy projection for U.S. economic growth: Trump says he expects to achieve annual increases of 3 percent — a substantial boost from the 2016 annual rate of 1.6 percent. Sponsor Message "Let's say I'm China and I have 10 educated people per 100 of my population, versus the U.S. where I have, say 50 educated people per 100," says Bayoumi. Bayoumi says this is a big reason for China's recent galloping growth — and for growth that the United States and the United Kingdom enjoyed at various points during the 19th century.

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History of this topic

Trump’s tariff problem: He might need a third or fourth term to reindustrialize America
1 week ago

Trump’s tariff problem: He might need a third or fourth term to reindustrialize America

CNN  

New York CNN — President Donald Trump is on a mission to restore American manufacturing prowess by using his favorite tool: massive tariffs on foreign imports. “The higher it goes, the more likely it is they’re going to build,” Trump told leading CEOs last week at The Business Roundtable, referring to tariffs. “Since President Trump was elected, industry leaders have …

Trump’s tariffs are inflicting serious economic damage and reigniting inflation, OECD says
1 week, 1 day ago

Trump’s tariffs are inflicting serious economic damage and reigniting inflation, OECD says

CNN  

CNN — President Donald Trump’s tariff policies are slowing economic growth in the United States and around the world while sending prices higher again, creating a toxic stew for the global economy that could grow even worse if tensions escalate, the Organisation for Economic Co-operation and Development said Monday. The OECD report shows what US markets have been signaling for …

Is Trump taking a ‘liquidationist’ approach to the economy?
1 week, 6 days ago

Is Trump taking a ‘liquidationist’ approach to the economy?

Live Mint  

During President Trump’s first term, stocks rode high on the belief that he would always pull back on policies that led to a selloff. Indeed, such views edge close to the “liquidationist" approach historically espoused by laissez-faire economists, and most infamously associated with former President Herbert Hoover’s Treasury secretary who advised him to let the economy fall. Trump and his …

US economic worries mount as Trump implements tariffs, cuts workforce and freezes spending
Trending News
2 weeks, 3 days ago

US economic worries mount as Trump implements tariffs, cuts workforce and freezes spending

Associated Press  

WASHINGTON — With his flurry of tariffs, government layoffs and spending freezes, there are growing worries President Donald Trump may be doing more to harm the U.S. economy than to fix it. In an interview to air Sunday on Fox News’ “Sunday Morning Futures,” Trump was pressed to provide some clarity on his tariffs agenda that has caused uncertainty to …

Trump’s Second Term and the Restructuring of Global Capitalism: A Shift in US Hegemony?
2 weeks, 4 days ago

Trump’s Second Term and the Restructuring of Global Capitalism: A Shift in US Hegemony?

The Hindu  

Published : Mar 07, 2025 00:07 IST - 7 MINS READ An eminent economist, he taught for more than three decades at JNU’s Centre for Economic Studies and Planning. If the first month of Donald Trump’s second term as US President is any indication, global capitalism—under US hegemony—appears to be undergoing an internally driven restructuring. Prominent among these is, of …

Trump wants US to make more, Xi wants China to spend more: Both aim to tame headwinds
2 weeks, 4 days ago

Trump wants US to make more, Xi wants China to spend more: Both aim to tame headwinds

Firstpost  

The Chinese economy has always been exports-driven, with less reliance on domestic consumption. For instance, consumption accounts of just 40 per cent of China’s GDP; whereas the figure hovers near 50 to 70 per cent in developed economies worldwide China over the past decades became ‘the factory’ of the world and a giant economy by selling goods worth hundreds of …

The state of the economy, in 9 charts
3 weeks ago

The state of the economy, in 9 charts

CNN  

CNN — President Donald Trump on Tuesday will address Congress for the first time in his second term, and he’ll do so with an economy that is mostly chugging along. Concern also have heightened in recent weeks about how Trump administration policies, specifically the implementation of steep import tariffs, could raise prices for consumers and businesses as well as reaccelerate …

U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in ’24
1 month, 3 weeks ago

U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in ’24

Associated Press  

WASHINGTON — A humming American economy ended 2024 on a solid note with consumer spending continuing to drive growth, and ahead of what could be a significant change in direction under a Trump administration. But a category within the GDP data that measures the economy’s underlying strength rose at a healthy 3.2% annual rate from July through September, slipping from …

The US economy just had another robust year
1 month, 3 weeks ago

The US economy just had another robust year

CNN  

Washington CNN — Another year of robust economic growth is in the books, underscoring how the Biden administration handed President Donald Trump what many consider a solid economy. “The US consumer has been unstoppable, supported by wealth creation, a strong labor market, and lending.” The latest GDP report comes on the heels of the Federal Reserve’s latest policy decision announced …

'Flashing a warning': Economist says Trump's plans leading to 'a terrible outcome'
1 month, 3 weeks ago

'Flashing a warning': Economist says Trump's plans leading to 'a terrible outcome'

Raw Story  

Most of Donald Trump's economic policies – such as tariffs, additional fiscal stimulus and mass deportations – are expected to add to inflation, according to a new analysis. The inflation rate has declined rapidly since peaking at 9.1 percent in the summer of 2022 but remains above the Federal Reserve’s target at 2.9 percent, and comments from the central bank's …

A critical look at Trump’s economic plans
1 month, 3 weeks ago

A critical look at Trump’s economic plans

Live Mint  

The second presidency of Donald Trump is off to a wild start. He will get his way because Congress decades ago ceded much of its constitutional authority over tariffs to the president under the International Emergency Economic Powers Act of 1977. And hey, doesn’t economic growth near 3%, unemployment at 4% and inflation under 3% sound like an economic emergency …

Donald Trump's Second Term: 5 economic forces shaping his presidency
2 months ago

Donald Trump's Second Term: 5 economic forces shaping his presidency

India Today  

WASHINGTON: Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. Here are five economic forces that could shape the first year of Trump's presidency: For voters, the price still isn't right Whipping inflation is easier said than done. His analysis suggests that if Trump can preserve 3% growth he could extend his expiring 2017 tax …

5 economic forces that could shape the first year of Trump’s presidency
2 months ago

5 economic forces that could shape the first year of Trump’s presidency

Associated Press  

WASHINGTON — Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. Here are five economic forces that could shape the first year of Trump’s presidency: For voters, the price still isn’t right Whipping inflation is easier said than done. “But in broad terms, look at what he does and not what he says.” What happens …

Why Trump's tariff promises will be hard to keep
2 months ago

Why Trump's tariff promises will be hard to keep

NPR  

Why Trump's tariff promises will be hard to keep toggle caption Scott Olson/Getty Images Donald Trump made a new, big promise last week about tariffs — the latest in a string of outsized pledges to use tariffs to benefit the United States. Sponsor Message The goals for tariffs: revenues, jobs, and the war on drugs One of Trump's big tariff …

Trump Was Poised To Inherit A Strong Economy. Then Things Got Rocky And He Added To The Uncertainty
3 months ago

Trump Was Poised To Inherit A Strong Economy. Then Things Got Rocky And He Added To The Uncertainty

Huff Post  

LOADING ERROR LOADING WEST PALM BEACH, Fla. — The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty. Trump vowed on social media Wednesday to “fight ’till the end” unless Democrats agreed to lift the debt ceiling as a condition for the short-term funding …

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty
3 months ago

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. Trump vowed on social media Wednesday to “fight ’till the end” unless Democrats agreed to lift the debt ceiling as a condition for the short-term funding to keep the federal government open. By Thursday, Trump was claiming on social media that a new deal reached among Republicans …

Trump has a problem: America's economy is growing but so is its inflation
3 months, 3 weeks ago

Trump has a problem: America's economy is growing but so is its inflation

Firstpost  

Even as the US economy grew by 2.8% in the third quarter, the inflation also grew by 1.9%, complicating the economic outlook that President-elect Donald Trump will inherit in January US President-elect Donald Trump has vowed to fix the United States. Inflation rises by 1.9% — complicating picture for Trump Even as the US economy grew 2.8 per cent year-on-year …

Trump's mass deportation plan could end up hurting economic growth
3 months, 3 weeks ago

Trump's mass deportation plan could end up hurting economic growth

Raw Story  

President-elect Donald Trump's hardline immigration proposals -- including a controversial mass deportation plan -- could prove economically damaging, analysts say, with US sectors that rely heavily on foreign workers like agriculture and construction especially hard hit. "The construction and agriculture industries would lose at least one in eight workers, while in hospitality, about one in 14 workers would be deported …

Trump's growth and trade agendas are at odds. His economic team will point to the winner.
4 months ago

Trump's growth and trade agendas are at odds. His economic team will point to the winner.

Live Mint  

Wall Street is glued to “The Apprentice: Treasury Edition." There are two main planks to that agenda: tax cuts and deregulation to bolster economic growth; and tariffs to reduce the trade deficit and bring back factory jobs. Inflation-indexed bonds and derivatives expect inflation next year will be about a quarter of a percentage point higher than they anticipated a month …

'May not survive': Experts say Trump's coalition shows 'great potential for a crackup'
4 months, 1 week ago

'May not survive': Experts say Trump's coalition shows 'great potential for a crackup'

Raw Story  

John Judis and Ruy Teixeira, two political scientists who have been highly critical of the Democratic Party's shift leftward on cultural issues in recent years, nonetheless think that Republicans may be getting ahead of themselves with a talk of a "political realignment." While acknowledging President-elect Donald Trump's impressive win in the 2024 race, Judis and Teixeira write in the New …

Markets hail Trump’s economics
4 months, 1 week ago

Markets hail Trump’s economics

Live Mint  

Twenty-three Nobel laureates in economics warned two weeks ago that Donald Trump’s economic agenda would be disastrous for the U.S. Mr. Trump’s election drove the largest single-day increase in the U.S. dollar in more than two years, and third largest in the last decade. The combination of the steepening yield curve, stable inflation expectations and the rise in stocks indicates …

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy
4 months, 2 weeks ago

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy

Firstpost  

Trump campaigned on promises to impose large tariffs on foreign goods, cut taxes for individuals and businesses, and deport millions of undocumented immigrants working in the United States. President-elect Trump has promised to dismantle many of the Biden administration’s policies, pledging substantial tariffs on imports, tax cuts for individuals and businesses, and a crackdown on undocumented immigrants working in the …

Frustrated Americans await the economic changes they voted for with Trump
4 months, 2 weeks ago

Frustrated Americans await the economic changes they voted for with Trump

Associated Press  

WASHINGTON — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. Trump policies could boost inflation The Peterson Institute for International Economics, a leading think tank, has estimated that Trump’s policies would slash the U.S. gross domestic product — the total …

Trump promised voters their incomes and net worth will soar. Economists are not convinced
4 months, 2 weeks ago

Trump promised voters their incomes and net worth will soar. Economists are not convinced

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inside a Pennsylvania arena, President-elect Donald Trump promised voters their …

Donald Trump pledged to restore the USA 'to ­greatness' - but just how will he achieve this ambitious goal? TOM LEONARD looks at what he could prioritise
4 months, 2 weeks ago

Donald Trump pledged to restore the USA 'to ­greatness' - but just how will he achieve this ambitious goal? TOM LEONARD looks at what he could prioritise

Daily Mail  

Donald Trump appears to have been left a changed man after his two brushes with death this year at the hands of would-be assassins. Donald Trump points his finger following early results from the 2024 US presidential election in Palm Beach County Convention Centre on Wednesday Mass migrant deportations Trump has pledged to close the US-Mexico border on the first …

How are world economies reacting to Trump's imminent return as U.S. president?
4 months, 2 weeks ago

How are world economies reacting to Trump's imminent return as U.S. president?

NPR  

How are world economies reacting to Trump's imminent return as U.S. president? “This is quite a complex network of supply chains, and increased tariffs by the U.S. — which would probably lead to retaliation by other major trading powers — would disrupt those existing supply chains, which leads to uncertainty, increased costs, and therefore has a knock-on effect on companies.” …

A 'Trump economy' robs from the American people to enrich the elite
5 months ago

A 'Trump economy' robs from the American people to enrich the elite

LA Times  

If Donald Trump retakes the White House, he would resume serving billionaires such as Vladimir Putin. Believing Donald Trump will be better for the economy than Vice President Kamala Harris is like thinking you’re a dinner guest when you’re actually the main course. When Trump slashed the corporate tax rate, his Council of Economic Advisers promised American workers would see …

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds
5 months, 2 weeks ago

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a Washington, D.C., think tank, thanks largely to his proposed tariffs on imported goods. “We’re doing tariffs on other countries.” The conservative Tax Foundation has said Trump’s tariffs would essentially be …

Trump’s promises would spike inflation and wipe out jobs, study finds
5 months, 3 weeks ago

Trump’s promises would spike inflation and wipe out jobs, study finds

CNN  

CNN — Former President Donald Trump has promised to attack the United States affordability crisis by imposing immense tariffs, carrying out unprecedented deportations and even influencing interest rate decisions. A loss of Fed independence would cause “permanently higher inflation” that “leads to ever-increasing prices across the US economy,” the paper said. At an event in Michigan last week, Trump praised …

The Trump economy: Slower growth, higher prices and a bigger national debt
8 months, 1 week ago

The Trump economy: Slower growth, higher prices and a bigger national debt

Al Jazeera  

Plans to hike tariffs, tighten immigration and cut taxes are likely to crimp growth and fuel inflation, experts say. “A tariff increase covering nearly all goods imports, as Trump recently proposed, goes far beyond any previous action,” Moody’s Analytics said in its report. “There are three main tenets of Trump’s campaign, and they all point in the same inflationary direction,” …

The inflationary consequences of Trump's planned immigration crackdown
9 months, 2 weeks ago

The inflationary consequences of Trump's planned immigration crackdown

Salon  

The 2024 election cycle will likely be one of the closest in recent memory, coming down to the smallest of margins of victory. Worse, his current economic plans, raising tariffs across the board by 10% and creating a deportation force, would increase inflation, raise costs, and hurt working people. Under Trump's law, according to the non-partisan Tax Center, workers who …

Decoding Trump's 10% tariff plan
1 year, 1 month ago

Decoding Trump's 10% tariff plan

China Daily  

Former US president Donald Trump speaks at a caucus site in Clive, Iowa, the United States, Jan 15, 2024. This bold, protectionist move, aiming to boost American manufacturing, could have profound implications for the US economy, disrupt global trade, and add a new dimension to the already complex and tense US-China relationship. As the world's largest economy running the world's …

Decoding Trump's 10% tariff plan
1 year, 1 month ago

Decoding Trump's 10% tariff plan

China Daily  

Former US president Donald Trump speaks at a caucus site in Clive, Iowa, the United States, Jan 15, 2024. This bold, protectionist move, aiming to boost American manufacturing, could have profound implications for the US economy, disrupt global trade, and add a new dimension to the already complex and tense US-China relationship. As the world's largest economy running the world's …

Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster
4 years, 4 months ago

Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster

NPR  

Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster Enlarge this image toggle caption Valerie Macon/AFP via Getty Images Valerie Macon/AFP via Getty Images On its surface, economic growth data out this week will look like one for the record books. Sponsor Message "These are numbers for the record books," said Nariman Behravesh, chief economist at the …

Trump's And Biden's Plans For The Economy
4 years, 5 months ago

Trump's And Biden's Plans For The Economy

NPR  

Trump's And Biden's Plans For The Economy Enlarge this image Caroline Amenabar/NPR; Keith Ewing/Flickr; Alex Snyder/Wayne National Forest/Flickr Caroline Amenabar/NPR; Keith Ewing/Flickr; Alex Snyder/Wayne National Forest/Flickr Key Priorities: Economy Joe Biden Increase investments in American-made products and companies, pouring $400 billion into procurement and $300 billion into research and development, with the aim of creating 5 million new jobs. Biden's …

Column: Trump says the economy is doing great — but whose economy is it?
5 years, 1 month ago

Column: Trump says the economy is doing great — but whose economy is it?

LA Times  

President Trump holds up a “Trump Digs Coal” sign as he arrives to speak to a West Virginia rally in August 2017. — Energy Secretary Dan Brouillette In the foreword to the latest report from his Council of Economic Advisors, released Thursday, Trump boasts of having “championed policies to restore the United States’ economic strength. Much of Trump’s economic rhetoric …

Donald Trump is hoping a strong US economy will ensure his re-election, but the numbers show a less sunny projection
5 years, 1 month ago

Donald Trump is hoping a strong US economy will ensure his re-election, but the numbers show a less sunny projection

ABC  

In Donald Trump's America there are three realities. Unemployment in America now stands at 3.6 per cent, the lowest it's been since 1969 — a time that most people remember as truly "great" for the economy. Trump's trade showdown It's almost inconceivable that the immediate future of the global economy hangs on the erratic whims of Donald Trump, writes Ian …

Trump’s economy: Solid and steady but vulnerable to threats
5 years, 1 month ago

Trump’s economy: Solid and steady but vulnerable to threats

Associated Press  

WASHINGTON — A portrait of a robust U.S. economy is sure to take center stage Tuesday night when President Donald Trump gives his third State of the Union address. During the 2016 campaign, Trump boasted that his tax cut plan would boost annual growth to 4% a year — a brisk pace not seen since the late 1990’s. “The Trump …

Modest US economic growth contradicts Trump’s ‘roaring geyser’
5 years, 1 month ago

Modest US economic growth contradicts Trump’s ‘roaring geyser’

Al Jazeera  

The US economy expanded at 2.3 percent last year, well short of Trump’s 3 percent target – again. According to United States President Donald Trump, the US economy was in “a rather dismal state” until he and his administration turned it into a “roaring geyser of opportunity” – how he described it to an audience at last week’s World Economic …

Trump Delivering Only A Fraction Of The 6% Economic Growth He Promised
5 years, 4 months ago

Trump Delivering Only A Fraction Of The 6% Economic Growth He Promised

Huff Post  

President Donald Trump speaks to the press at the White House after announcing an initial deal with China on October 11, 2019. NICHOLAS KAMM via Getty Images WASHINGTON – Despite promising growth as high as 6%, President Donald Trump presided over an economy that grew at just 1.9% in the third quarter — a figure that Trump said signaled an …

US economy expands 1.9 per cent, but slowdown under Trump takes hold
5 years, 4 months ago

US economy expands 1.9 per cent, but slowdown under Trump takes hold

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Gross Domestic Product expanded at an annualised rate of …

The US economy is on track to miss Trump’s growth target – again
5 years, 4 months ago

The US economy is on track to miss Trump’s growth target – again

Al Jazeera  

US economic growth was stronger than expected July-September, but the rate marked a slowdown from the previous quarter. US gross domestic product – which measures the market value of all final goods and services produced – rose at a 1.9 percent annualised rate in the third quarter. Though stronger than the 1.6 percent analysts polled by Reuters news agency had …

The US economy is on track to miss Trump’s growth target – again
5 years, 4 months ago

The US economy is on track to miss Trump’s growth target – again

Al Jazeera  

US economic growth was stronger than expected July-September, but the rate marked a slowdown from the previous quarter. US gross domestic product – which measures the market value of all final goods and services produced – rose at a 1.9 percent annualised rate in the third quarter. Though stronger than the 1.6 percent analysts polled by Reuters news agency had …

U.S. green economy growth dwarfs Trump’s highest hopes for the fossil fuel industry
5 years, 4 months ago

U.S. green economy growth dwarfs Trump’s highest hopes for the fossil fuel industry

Salon  

While US President Donald Trump may be “the world’s most powerful climate change denier”, our latest research suggests that he took over over a thriving green economy. Our analysis also suggests that in the US, nearly ten times more people were employed in the green economy and its supply chains than employed directly in the fossil fuel industry — that …

Thanks to consumers, US economy is rising steadily if slowly
5 years, 6 months ago

Thanks to consumers, US economy is rising steadily if slowly

Associated Press  

WASHINGTON — The U.S. economy slowed in the spring, and most analysts expect it to weaken further in the months ahead. The nation’s gross domestic product — the broadest gauge of economic health — grew at a moderate 2% annual rate in the April-June quarter, the Commerce Department reported Thursday. But most think consumer spending will be enough to offset …

Donald Trump acknowledges 'aggressive' China trade policies could tip US into recession, says need strategy for long term benefits
5 years, 7 months ago

Donald Trump acknowledges 'aggressive' China trade policies could tip US into recession, says need strategy for long term benefits

Firstpost  

Washington: President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they’re needed for more important long-term benefits. Asked if his trade war with China could tip the country into recession, Trump brushed off the idea as “irrelevant” and said it was imperative to “take China on.” “It’s about time, whether it’s …

2020 election: Donald Trump can’t afford a recession
5 years, 7 months ago

2020 election: Donald Trump can’t afford a recession

CNN  

CNN — President Donald Trump’s main hope for reelection has been the economy. Right now, the main reason voters approve of Trump’s job performance is the economy. A CNN poll from late May found that 26% of those who approve of Trump’s job performance said it was mainly because of the economy. Applying this to Trump, we find that the …

US manufacturer accuses Trump of keeping him from doubling his workforce in brutally blunt op-ed
5 years, 10 months ago

US manufacturer accuses Trump of keeping him from doubling his workforce in brutally blunt op-ed

Raw Story  

The owner of one of the United States largest bicycle manufacturing operations opened up to the Washington Post that he'd love to add more employees to his workforce to meet demand, but Donald Trump's trade war with China is crippling his business. Speaking with the Post's Sophia Nguyen, Arnold Kamler, chairman, and CEO of Kent International, Inc., based in Parsippany, …

Donald Trump set to become $100 billion man as US trade deficit surges
6 years ago

Donald Trump set to become $100 billion man as US trade deficit surges

Live Mint  

Washington: US President Donald Trump, the self-proclaimed Tariff Man, is set to become the $100 Billion Man. If the trends of the past year and economists’ expectations hold true, trade data to be released Wednesday will show the US trade deficit in goods and services with the world topped $600 billion in 2018. That means Trump’s presidency will have seen …

U.S. economy’s growth falls short of Trump’s 3% goal for 2018
6 years ago

U.S. economy’s growth falls short of Trump’s 3% goal for 2018

LA Times  

The nation’s economic growth declined at the end of last year for the second straight quarter, denying President Trump the 3% annual increase he had promised that Republican tax cuts would spur. The report showed that last year’s economic performance, although strong, fell just short of the annual growth that Trump and his advisors had confidently proclaimed in recent months …

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