A trade war with China unleashed by Donald trump, did not protect the American economy, but only weakened, says Bloomberg. Duties on Chinese goods, in fact, have additional taxes on American businesses, American farmers and consumers, resulting in a reduction in economic performance of the United States.
Originally protectionism Donald trump was the tariffs on steel and aluminium from China and the EU, but now the duties imposed almost all goods delivered to the United States from China, according to Bloomberg.However, rather than strengthen the economy, trade wars trump only has forced many companies to abandon the new American products, the newspaper notes. In addition, because of the chaos caused by the tariff was nullified the effect of the tax cuts. From September 2018, the American industrial production dropping by October 2019 fell 1.5%.According to Bloomberg, after the Second world war, the us economy began the transformation from an industrial superpower in the largest service provider, however this crucial for the American economy is also declining. In 2015, the monthly trade balance services of the United States was $21.9 billion, now it is $21.1 billion Fares and a fine trump against China, in fact, are additional taxes on American farmers and consumers, and American business, says the publication. In addition, they are harmful to us suppliers. It is estimated that the loss of nine of the largest U.S. logistics companies reaches 1%.Two years ago, Donald trump predicted that U.S. GDP could grow by 6%, reminds Bloomberg. In fact, in 2018, the growth amounted to 2.9%, and in 2019 is already at 2.3%. It is expected that in 2020 this figure will continue to decline to 1.8% — including because of duties, slowing down the American economy.