President Trump said his 'Tariffs on China' were boosting the American economy. Some economists, however, aren't so willing to connect those dots, pointing out the negative effects the tariffs are having on the country's economic growth.
President Donald Trump said his"Tariffs on China" were boosting the American economy. Some economists, however, aren't so willing to connect those dots, pointing out the negative effects the tariffs are having on the country's economic growth.
GDP based on spending is the sum of what consumers spend, what businesses spend, the amount the government spends, and exports minus imports. If exports increase or imports decrease — as with China — GDP goes up. The tariffs are certainly having other costs on the economy. Clients of strategic and operational consulting firm IHS Markit have been frustrated with the time they're spending on trying to get around the extra costs tariffs present, according to Joel Prakken, the company's chief U.S. economist."One big company said its management team was spending half its time trying to readjust the supply chain," Prakken said.
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