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Trump Trade Policy Tag

The gross domestic product (GDP) hit 4.1% in the second quarter, up from 2.2% in the first quarter. This is the fastest rising GDP since 2014! The Bureau of Economic Analysis reported that the growth comes "from positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment."

The Sun dropped an interview with President Donald Trump on Thursday night as he met with Prime Minister Theresa May for a black-tie dinner. In it, he criticized May's Brexit strategy, claimed she did not listen to him, and that a trade deal between the two countries could be in danger. May and Trump held a press conference Friday morning. Trump told May that whatever she wants to do with her Brexit plan is okay with America, but just make it possible for the UK to engage in trade with the United States. Trump also called The Sun interview 'fake news' because they left out portions of his comments, all of which the White House has recorded.

President Donald Trump will approve a plan that will impose a 25% tariff on Chinese technology products, which is worth around $50 billion. From The Washington Post:
Although the import levies affect less than 10 percent of the $505 billion in Chinese goods that Americans buy each year, Trump’s new trade barriers mark a historic change after three decades of deepening ties between the world’s two largest economies.

President Donald Trump's administration failed to reach a deal with Canada, Mexico, and the European Union, which led the president to impose tariffs on steel and aluminum imports. Trump gave these three an extension when he brought up tariffs last month, but Commerce Secretary Wilbur Ross said the administration will not renew the tariffs. Imported steel will receive a 25% tariff while aluminum will have a 10% tariff.

We've been covering the Trump administration's trade talks with China, and now both nations have reportedly agreed to halt the trade war, including the imposition of tariffs, until a deal has been reached. The AFP reports:
Washington and Beijing have agreed to abandon any trade war and back off from imposing tariffs on each other, Chinese state media reported Sunday.

Rattled by President Trump's proposal to raise tariffs on steel and aluminum imports, the European Union is threatening the U.S. with a full-blown trade war. "We will now impose tariffs on motorcycles, Harley Davidson, on blue jeans, Levis, on bourbon," Jean-Claude Junker, President of the European Commission, warned earlier this week. "Should Trump follow his words with actions, Europe will reply proportionately," German Economy Minister Brigitte Zypries said in response to the proposed move.
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