US President Donald Trump on Wednesday announced a 25 percent tariff on India. He said that these duties will come into effect from August 1. However, now it has been postponed for 7 days. Not only this, the US President taunted and called India's economy dead.
The US President may have made such a statement to make headlines, but his statement does not match the reality at all. The Indian economy is one of the fastest-growing economies in the world. On the contrary, the condition of the US economy is not very good at this time.
Ever since Donald Trump became President, a disappointing increase in economic data has been seen in the US. The weak economic data in recent times has shown a worrying situation about the effects of Trump's policies. This report shows that the US is currently facing problems such as a lack of job growth, rising inflation, and slower economic growth than last year.
How much did the US economy improve after Donald Trump became President?
US President Donald Trump made many claims about the US economy just after becoming President. However, now, after 7 months, his claims seem to be failing. It is believed that the effects of the US President's policies are now becoming unclear.
Job growth in America is decreasing. Inflation is increasing. The growth rate has slowed down compared to last year. It is being said that such problems are being seen in America due to Trump's new decisions.
What does Donald Trump want to take credit for?
Let us tell you that after more than 6 months of his tenure, the tariffs imposed by US President Trump on various countries and the new laws made by him changed America's trade, manufacturing, and systems according to his liking. It is believed that Trump is very desperate for a possible victory. Not only this, but he is looking for someone else to blame for the deteriorating financial situation in America.
The head of the reporting agency was reprimanded.
Let us tell you that after the employment report came out on Friday, many types of discussions started taking place in America. This report turned out to be quite disappointing. After this, Donald Trump ignored the warnings given in these figures. Not only this, but the head of the agency that prepares monthly employment figures was sacked.
What do America's economic figures say
In recent times, an economic figure has come out regarding jobs in America. It was reported that 37,000 manufacturing jobs were lost since the tariff started in April. Not only this, 73,000 jobs were added in July alone, 14,000 in June, and 19,000 in May, which is much less than last year's average of 168,000.
Trump also attacked the Federal Reserve.
It is worth noting that US President Donald Trump has directly blamed Federal Reserve Chairman Jerome Powell for the economic problems. He demanded interest cuts. Due to this, inflation may increase again. This is a risky policy. This is being said because tariffs have already increased prices.
The former President had already given a warning.
It is noteworthy that former US President Joe Biden had said earlier in December that the burden of tariffs would fall on the American consumers. He had said that Donald Trump's policies can either bring development or destruction.
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