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Trump hails economic boom, says China trade deal is 'close'

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[WASHINGTON] President Donald Trump on Tuesday took credit for an American economic renaissance but was greeted by another salvo from US industries that blame his trade wars for jeopardising employment, wounding business and burdening consumers with higher costs. Read more at The Business Times.

"Some regions and industries are already feeling the pain and the damage to jobs, income and tax revenue could be crippling down the road," Gene Seroka, executive director of the Port of Los Angeles, said in a statement.

Complaints from US business have become louder this year as the trade war has dragged on while farms and factories fall on hard times. The International Monetary Fund said last month the trade wars are likely to shave 0.8 per cent off global growth next year and was eating into business investment in the United States.

 

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