Trump’s Rhetoric and Agenda Are Hurting the Economy
June 7, 2017
This week, there have been multiple signs that Trump’s rhetoric and agenda are hurting the U.S. economy. Trump’s words not only hurt our standing abroad, but they could cost thousands of American workers their jobs and our economy billions of dollars.
The dollar has hit a seven-month low over doubts on Trump’s ability to implement his economic agenda.
CNN Money: “The U.S. dollar slumped to a seven-month low against a basket of currencies on Tuesday, wiping away the last of its post-election gains…But momentum has reversed because of weak economic data and doubts over Trump's ability to finalize his economic agenda and move it through Congress.”
The World Bank revised down its growth projections for the U.S. over uncertainty from Trump’s agenda.
U.S. News: “Citing ‘substantial’ risks related to uncertainty from President Donald Trump's trade, tax and economic agendas, the World Bank on Sunday revised down its 2017 growth projections for the United States.”
Trump’s rhetoric and policy hurts U.S. tourism, which could lead to a loss of $1.3 billion in 2017 alone and more than 4,200 jobs.
CNN Money: “Trump's rhetoric and policy gives foreign travelers the sense that America is closing its doors, experts say. That's a big problem, since foreign visitors spend hundreds of billions of dollars in the U.S. each year. The Global Business Travel Association estimates that the U.S. will lose $1.3 billion in travel-related expenditures in 2017, taking hotels, food, rental cars and shopping into account. The organization thinks more than 4,200 jobs could be lost as a result.”