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WASHINGTON (AP) - President Donald Trump is painting a false picture of a U.S. economy unaffected by his trade war with China and other countries.
He describes a blue-sky world in which rapidly escalating tariffs have no impact on American consumers even as a raft of businesses and economists say otherwise, chastising those who caution of potential weakness in the economy as partisans.
Some economists have put the costs to an average U.S. household from Trump’s pending tariffs on imports from China at $1,000 per year or more, not taking into account the most recent tax hike the president announced Friday of up to 30% on goods. Trump also insisted that economists don’t believe his trade disputes with China could spur recession, but in fact most analysts believe a downturn could start in the next two years.
The claims capped a week in which Trump repeatedly misrepresented his administration’s record, also citing false progress on veterans’ health care, boasting misleadingly about his judicial nominations and blaming President Barack Obama for a policy of separating migrant families that he himself started.
TRUMP: “I think our tariffs are very good for us. We’re taking in tens of billions of dollars. China is paying for it.” - remarks Friday night to reporters before leaving for the Group of Seven summit in France.
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