according to top economists trade war with china is damaging us economy

According To Top Economists Trade War With China Is Damaging US Economy

Business

When we talk about the united states of America, the only thing which comes into the mind of every average person is that it’s a place of opportunities. Even though that’s true nowadays, it’s becoming hard for businesses in this country to make a profit. Since the US government has started a trade war with China, there are many obstacles which they have to face to overcome this situation. Now some economists are saying that Trump’s decision of starting a trade war with China might be the worst decision because it’s ultimately dragging the economy down.

Recently Moody’s Analytics Chief Economist Mark Zandi said that Trump’s declaration of starting a trade war is slowing down our economy and it’s also creating an extra weigh on the economy. Economists think that employment became a significant problem because a trade war issue government managed to produce only 102000 jobs in the private sector against the prediction of 140000 by experts. Trade war is hugely affecting small businesses who have employees less than 50, and that’s why inflation is also increasing.

Since small scale businesses are where the majority of the people work, it’s getting harder for them to find new jobs. Even though big companies are growing at a faster rate, they can’t manage to create jobs for the masses. Economists think that Trump’s decision of putting extra tariffs on Chinese goods has been one of the worst types because it has ultimately made the situation for smaller businesses harder. When asked them about recent bounce in the stock market because of Donald Trump and Xi Jinping’s meeting, they said that all of these meetings are going to add nothing until they stop putting taxes. In the next couple of few days both countries are going to have another meeting to resolve this issue, and this time we can hope that something positive might come out of it.

 

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