Donald Trump defended his confrontational stance on trade with China. He insisted the eventual gains from an agreement with the world’s second-largest economy will offset any short-term pain and stock market losses
of tweets. “Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much.”
By itself, the move carries no immediate penalties, but shows Trump’s frustration with the stalled trade talks and Beijing’s recent announcement that it has ordered its state-owned enterprises to halt purchases of U.S. farm goods. However, the impending disappearance of what once was a top market for U.S. farm exports elicited strong criticism from the American Farm Bureau Federation this week.
Rep. Cindy Axne , a first-term congresswoman who defeated an incumbent Republican in last year’s “blue wave” election, said China’s decision to halt ag purchases would be “devastating” for her state’s farmers and add to the financial challenges they are already facing because of dropping commodity prices and flooding.
poster="http://v.politico.com/images/1155968404/201908/3221/1155968404_6066911064001_6066913279001-vs.jpg?pubId=1155968404"If China wants to want until after the 2020 election in the hope of negotiating with a new president, "that's up to them," Kudlow said. "But I think they will continue to do great damage to their economy. The American economy is very strong. Theirs is not."on the United States. U.S. economic growth slowed to 2.
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