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Consumer spending, you see the fact that we are in a historic moment in terms of our economic growth, i mean, this is the first time in four years that weve seen the gdp break at 4 . It was Larry Summers who said if we get to a 3 growth that it would be fair enough to say if you were to believe in tooth ferries. Jon Allison Barber is reporting from berkley heights, new jersey, near the president s golf club where he is spending this weekend. Allison, how big a deal are these numbers for the white house . Reporter for the white house they seem to be an enormous deal. Any time we speak to anyone from the administration or hear any interviews with President Trump or even from Vice President pence, what they want to talk about is the economy and gdp growth, despite warn ....
20 people. worker hours have been cut. it doesn t affect just my crew. it affects the lobster catchers, their crews, the trap makers, the guys that do rope, the guys that do bouys. reporter: advocates fear lost access to the chinese market will hit the whole industry, from wholesalers to harvesters. it s about rural jobs for us. it has an impact on our rural communities, the islands and coastal towns. reporter: michael floyd has been pulling lobsters from the sea since childhood. right now the price is pretty stable. but the season has just barely started too. the lobsters arrive in mid-coast and whole state, we don t know how it will go. reporter: he s weathered many storms in the decades-long career and wonders what the latest one will mean. it s the old addage, we re not going to starve but i don t know if we re going to get rich either. reporter: the hope here is that the new chinese tariffs go ....
reporter: his company employs 20 people. worker hours have been cut. it doesn t affect just my crew. it affects the lobster catchers, their crews, the trap makers, the guys that do rope, the guys that do bouys. reporter: advocates fear lost access to the chinese market will hit the whole industry, from wholesalers to harvesters. it s about rural jobs for us. it has an impact on our rural communities, the islands and coastal towns. reporter: michael floyd has been pulling lobsters from the sea since childhood. right now the price is pretty stable. but the season has just barely started too. the lobsters arrive in mid-coast and whole state, we don t know how it will go. reporter: he s weathered many storms in the decades-long career and wonders what the latest one will mean. it s the old addage, we re not going to starve but i don t ....
Record 18 million-pound of lobster alone, roughly 20% of the american lobster industries $648 million export total. but it was new u.s. tariffs beijing struck back, slapping an additional 25% levy on u.s. lobster. the changes threatened profits for dealers like michael. 50% of what we do what the lobster company do to go to china. since july 6th we ve sent none. his company employs 20 people. worker hours have been cut and he hopes to avoid layoffs. it doesn t affect just my crew, it affects the lobster catchers, they are crews, the trap makers, the guys that do rope, the guys that do buoys. advocates fear lost access to the chinese market will hit the whole industry from wholesalers to harvesters. it s a lot about rural job for us. it does have a huge impact to our rural communities, our island ends our coastal stones. michael floyd has been pulling lobsters from the sea since childhood. ....