President Trump has been in office for 3 years, which is enough time to analyze how the economy is doing vs. his statements on how it would perform
At $1 trillion it will be the largest budget deficit in history, except when there is a recession, and even without another downturn it is projected to be over $1.7 trillion in 2030. If, and more likely when, there is another recession the deficit could easily top $2 trillion.During Obama’s eight years in office the trade deficit ranged from $384 billion in 2009 due to the Great Recession to $550 billion in 2011 as the U.S. economy recovered earlier than the rest of the world.
After Canada and Mexico, China is the third largest buyer of U.S. goods. A result of Trump’s trade war with China is U.S. companies and farmers selling fewer goods to it. After peaking in 2017 at $130 billion, goods exports to China have fallen $23 billion or 18% to $107 billion in 2019.as their exports to China have fallen almost $20 billion over the past two years.
The Phase One deal includes very ambitious goals for China to buy U.S. agricultural products. These were going
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