Tune out the Noise!
There has been a slowdown in the United States’ economy when it comes to Europe and China, but overall, the economy remains “quite strong,” and there are no indications of a looming recession, US Treasury Secretary Steve Mnuchin said Tuesday.
“We still see tremendous investment in capital and human investments,” Mr. Mnuchin said Tuesday in a TV interview.
The combination of tax reform, regulatory relief, and trade are still having a strong impact, he said.
“There are people who expect a slowdown,” said Secretary Mnuchin. “I would comment a year ago, the projections were 2.5%, and we were at 3%. We feel very comfortable we’re going to hit 3% for last year, and we think there is still a very good case for 3% this year.”
The Trump Administration also could not be more pleased with the new trade agreement with Mexico and Canada, the USMCA, and is looking forward to Congress passing it quickly, said Secretary Mnuchin.
Meanwhile, President Trump will be involved with at the end of the upcoming trade talks with China, but he has not made a decision on whether to drop tariffs.
He wants reciprocal free trade, said Secretary Mnuchin, as the administration’s objective is to ensure US companies can do business fairly in China, not slow down that country’s economic growth.
When President Trump finishes with China, he will focus on the EU with his America First policy,
Making and Keeping America Great!