Home Uncategorized Goldman Sachs Claims December Tariffs Are Coming Despite Trump’s Phase One Deal

Goldman Sachs Claims December Tariffs Are Coming Despite Trump’s Phase One Deal

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Federal prosecutors in Manhattan want to dig into Rudy Giuliani’s mission to interact with Ukraine government officials to ruin Joe Biden’s campaign. Mr. Giuliani told the press he didn’t know he was under investigation, but Trump thinks he is, according to the way he defended Rudy. Trump claims Rudy is still an American hero and his attorney, for now.

Rudy is the central figure in the Ukraine debacle. Trump sent Rudy to Ukraine to stir up old conspiracy theories, and to put pressure on President Zelensky, so the new leader would do his political dirty work. The prosecutors in Manhattan say Rudy contacted foreign government officials without letting U.S. officials know.

Giuliani said he contacted Ukraine prosecutor Lutsenko on behalf of his client, but the fact Rudy used two Ukraine mobsters to entice officials to talk to him sounds more like a page out of the John Gotti mobster handbook than a typical lawyer-client relationship, according to the New York Times.

Mr. Trump knows his economy is in the toilet, so he told the press he reached a phase one trade deal with China. According to Trump, China will immediately buy tons of farm products from American farmers. The president told the press China started buying a lot of farm products immediately after the meeting, but there’s not accurate, according to the New York Times.

Chinese importers did buy pork recently due to the swine flu outbreak in Asia. And importers bought more soybeans because Brazil couldn’t meet China’s demand. But those orders were in the works before Trump’s meeting with Liu He, according to the Washington Post.

Mr. Trump told the Chinese he would not add another five percent tariff on some Chinese products on October 15th. But according to Business Insider, Trump plans to keep his December tariffs in place.

China’s economy feels the tariff pressure. Chinese exports fell by 3.2 percent in September. And imports fell by 8.5 percent. But even though China’s Gross Domestic Product growth dropped from 6.8 percent to 6.2 percent in 2019, the U.S. trade surplus is still more than $34.8 billion.

America’s economy is much weaker thanks to the tariffs. Gross Domestic Product growth was 3.2 percent at the end of 2018. At the end of the third quarter of 2019, GDP growth dropped below two percent. If Trump’s tariff war with China continues, and he adds tariffs to European products this month, economists expect no GDP growth at the end of the year.

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