Economy

Trade War Snags U.S. Consumers as Bigger Hit to Growth Seen – Bloomberg

President Donald Trump’s decision to impose tariffs on an additional $200 billion of imports from China drags the biggest part of the U.S. economy into the thick of the trade war, threatening to deliver a more direct hit to growth.

Source: Trade War Snags U.S. Consumers as Bigger Hit to Growth Seen – Bloomberg

“Assuming retaliation from China, Daco reckons that the tariffs will shave about 0.4 percent from U.S. gross domestic product in 2019, more than the 0.1 percent before the latest announcement, and the drag may even be worse given the tariffs will rise to 25 percent.”

Corporate tax cuts and Arizona’s 20 by 2020 plan for teacher pay are based on wishful thinking and rosy projections about an economy being undercut by our President. We need leaders who make fact based decisions that support the middle class economy in Arizona.