Trump claimed a successful start to his presidency, but the economy indicates otherwise – Bloomberg
Kyiv • UNN
Despite Trump's claims of a successful start to his presidency, the US economy is showing a decline in GDP, rising unemployment and falling confidence. Trump's trade war and tariffs have led to uncertainty.
Donald Trump's second presidential term began with a decline in US GDP. Prospects are deteriorating in almost all areas. Instead, Trump claims that he successfully started his activities as president. This is reported by Bloomberg, reports UNN.
Details
Americans voted for Donald Trump because of his promises to solve problems in the US economy, from persistent inflation to long-term job cuts in manufacturing.
He has already stated that he has started the best presidential term in history. But the figures in the economy indicate otherwise.
The US economy contracted for the first time in three years in the first quarter - mostly as a result of rising imports, as corporate America tried to stay ahead of Trump's higher tariffs. Inflation has stabilized.
American business created 456,000 jobs in the first three months of the year. But despite this, the unemployment rate in the country is rising.
Surveys of consumer confidence, corporate investment plans, and expectations for economic growth and employment showed a sharp drop in sentiment. And the key reason is Trump's trade war. His chaotic introduction of the highest tariffs on imports to the US has pushed the economy into uncertainty.
The stock market is showing the worst performance in the last three years, the value of the dollar is falling. And along with it, the confidence of American voters in the elected president.
Let us remind you
US President Donald Trump said in an interview with The Atlantic that the second presidential term of US leader Donald Trump is more to his liking than the first. Now in the president's chair he is "having fun" because "he runs the country and the world".