Trump said the U.S. economy would have added more jobs “if we had a Fed that worked with us.”
President Donald Trump on Tuesday said a U.S.-China trade deal “could happen soon,” describing a phase-one agreement as “close” in a speech to the Economic Club of New York.
Trump also took aim at the Federal Reserve and touted U.S. job creation in the midday speech, saying that his administration had “exceeded expectations” on the U.S. economy by creating nearly 7 million new jobs. The number is closer to 6.5 million since the beginning of the Trump administration, according to the government.
Citing stock-market records, Trump claimed, “if we had a Fed that worked with us, we could have added another 25% to those numbers.”Equities and other assets have hung on statements from Trump and China about the possibility of a deal, with the president last week disputing Beijing’s assertion that the U.S. and China had agreed to roll back tariffs as part of an interim trade pact.
The U.S. and China have placed tariffs on billions of dollars’ worth of each others’ goods in a trade fight that has roiled global markets. The next round of U.S. levies on Chinese products is scheduled to go into effect on Dec.15., and covers $156 billion of goods including toys and computers.Now read: Trump’s agenda may be a double-edged sword for the U.S. and world economies.
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