trade war, and donald trump should know that by now, but this week he dropped more bombs in his trade war by increasing the tariffs that americans must now pay for chinese goods to the point where jpmorgan now estimates that the tariffs will cost the average american household $1,000 a year. for most people coming up with an extra $1,000 a year to pay in taxes, which is what tariffs actually are, is not easy. and the democratic nominee for president will surely be running hard against the trump tariffs, but so far the democratic candidates are staying relatively quiet about the trump tariffs and giving donald trump a very long leash in which he appears to be getting himself all tangled up politically. donald trump launched the trade war with china because he thought the united states trade deficit with china was too high. now it is higher. axios is reporting president trump s trade war has led to even bigger trade deficits with
relatively quiet about the trump tariffs and giving donald trump a very long leash in which he appears to be getting himself all tangled up politically. donald trump launched the trade war with china because he thought the united states trade deficit with china was too high. now it is higher. axios is reporting president trump s trade war has led to even bigger trade deficits with china, even though it was intended to improve the trade balance. but it s not just china. the deficit has increased with most of our other trade partners, too. among the u.s. 15 biggest trading partners, the trade balance has moved in the wrong direction for trump in ten of those countries between 2016 and 2018, while the aggregate trade deficit has jumped from $503 billion to $628 billion. the new york times reports the american manufacturing sector contracted last month. a key measure showed on tuesday
even within his own party trump is obsessed with anything that concerns the trade balance trade deficit for him the source of all evil and all problems so he is a protectionist and they always complain about the united states trade deficit for good but forget about the surplus of foreign investment capital or trade the trade surplus and services trade is not a one way street where one country loses and the other one wins and so economists for once pretty much agree that these terrorists are going to hurt american businesses and consumers and that again would harm the economy and g.d.p. growth as well and that would be definitely a problem where you are now it s the end of the week so see how did the markets close and what s coming up next week well this week it was all about trade and at the same time it was and it can be pretty confusing what the markets are making out of potentially consequential use
agreements made between the two world s largest economies over months of trade negotiations. and our financial correspondent at the new york stock exchange so fishermans key is standing by for us sophie what are the reactions where you are to this could it strengthen trumps hand and trade disputes. well there is the perception here i mean it gives him a way to justify his strict and some might even call that stubborn way of bargaining and he needs to bolster his view because he has many opponents even within his own party is obsessed with anything that concerns the trade balance trade deficit for him the source of all evil and all problems so he is a protectionist and they always complain about the united states trade deficit for good but forget about the surplus of foreign investment capital or trade the trade surplus and services trade is not
and they are moving on us officials and the trade delegation from china met thursday morning at the us treasury department. president trump met with the christ premiere at the white house the exact same data joint statement says both parties agreed on quote - taking effective measures to substantially reduce the united states trade deficit and goods with china. it goes on to say quote - to meet the growing consumption is of the chinese people and the need for high quality economic development, connie will significantly increase purchases of the united states good and services. this will help support growth and employment in the united states. both sides according to the statement also agreed to encourage a two-way investment alert to create a more level playing field when it comes to trade. the chinese delegation came to the us.