US industries slam president saying his trade war jeopardising 1.5 mil jobs. FMTNews Trump
WASHINGTON: President Donald Trump yesterday 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.
It warned that the trade wars threaten almost 1.5 million jobs across the United States which depend on the movement of goods through ports in southern California that are heavily reliant on trade with China. As of last month, cargo volume at the ports is down more than 19% compared to October of last year, the report said.
But economists warn the trade war has begun to rattle the global economy, which is suffering a general slowdown, and also hit the United States, eroding exports and business investment, sending manufacturing into decline and helping put the brakes on hiring.
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