Home Economic Performance CNBC Report Indicates That The Trade War Is Hurting The Nation’s Economy

CNBC Report Indicates That The Trade War Is Hurting The Nation’s Economy

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Over a year ago, United States President Donald Trump slapped some tariffs on goods being exported from China to the United States. Days after this decision was made, the People’s Republic of China came right back at the United States, lobbying tariffs on American goods being exported into China.

Since then, an ongoing trade war has been maintained between the two countries, which have the two largest economies in the world.

A recent report from CNBC, published just earlier today, on Thursday, Aug. 22, 2019, compiled financial information – primarily, the information is related to corporate earnings – from around the United States public stock sector and ultimately determined that the trade war is placing a noticeable strain on the United States domestic economy.

Two companies that haven’t been faced with the pains caused by the trade tensions between the United States and China are Walmart and Target, which have both recently pumped out highly positive financial reports for the second quarter of 2019. Virtually all other retailers on the domestic market have sent their earnings reports for the second quarter of 2019 in – some 94 percent of them have already pushed out their most recent quarterly earnings reports this year – making it a safe bet that no other big-box retailer is going to post overly positive financial earnings reports for this quarter outside of the two big ones mentioned above – Target and Walmart.

While these two retailers have done quite well for themselves in recent months, other major American retailers haven’t been so lucky. Macy’s and J.C. Penney, unlike the two retailers mentioned above, are likely to go out of business at any time, as they have been unfortunate enough to fail to be able to draw in more customers to purchase their goods.

One reason why Target and Walmart are doing so well right now is because they offer all types of consumer goods in a centralized location. The likes of J.C. Penney and Macy’s are less sought after because they only offer things like clothing and retail cooking equipment, rather than providing users with the wealth of products that they get when they can log onto this wireless Internet portal. Not as many consumers turn to major restaurant complexes, for example.

Energy companies across the country have been particularly hurt in the past three months by the fact that automobile fuel – gasoline and diesel alike – has not been sold for as much as it used to be sold for.

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