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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

White House GDP Projection Lowered

02/09/2020

Steven Mnuchin Sec of the Treasury

In an interview on Thursday, February 6th the Secretary of the Treasury, Steven Mnuchin, noted that GDP will not attain three percent in 2020. He attributes the decline to the ongoing travails of Boeing with their 737 Max grounded for modifications. Mr. Mnuchin also considers that the Hunan Coronavirus may also have an impact on global growth. Most economists feel that the outbreak will impact the economy of the U.S., but at this stage it is impossible to develop a number since the progress of the infection over the next two months is difficult to predict.

 

Tariffs on imports from China will not be relaxed despite the concessions made by China that are regarded as self-serving. A reduction in import and punitive tariffs on Chinese goods will depend on progress in Phase-Two negotiations and compliance with pbligations under the Phase-One Agreement.


 
Copyright © 2020 Simon M. Shane