U.S. trade deficit decreased by 52 billion dollars. President Trump stated on Sunday that it is the main and weightiest result out of all results, indicated in the last government economic report for Q2, 2018. U.S. President considers that the policy of his government, in particular, tax cuts, reduction of regulatory norms and change of international trade terms create the best conditions for economic growth, Voice of America reports.
Meanwhile, While House Economic Advisor Larry Kudlow stated on Sunday that the economic growth by 4.1 percent, which was fixed in U.S. in Q2, will be sustained within the next few months, despite the skepticism of independent economists. “Many positive things are happening”, Kudlow said, delivering speech on CNN.
According to him, President Donald Trump “deserves to be honored as the winner”, taking into account “tax cuts and reduction of regulations, for example”. “Trade reform, I think, is already compensated. The major economic indicators look very good”, - he said. “The business investment boom is observed. And it generates production. It creates jobs. It creates salaries for ordinary people. It is important”, he explained.
Kudlow said that during the five full calendar quarters of 18-month Trump’s presidency, the average economic growth of the world’s largest economy was 2.9 percent.
