United States (US) President Donald Trump hit the airwaves with a fresh round of commentary on a wide range of subjects on Tuesday. President Trump reiterated his intentions to treat trade balance as an imbalance that needs to be rectified in order for a country to reach maximum profitability, and also repeated his intentions to obtain questionably steep 'investment agreements' with individual companies. How these corporations are meant to invest directly in the US, outside of expanding regular operations that market share may not generate profitability from, remains unclear.
Donald Trump also noted that by removing his own self-imposed triple-digit tariffs targeted as US consumers who demand goods from China, that China has eased back its own tariffs on US goods. According to the Fitch Ratings agency, the Effective Tariff Rate (ETR) remains above 40% on Chinese goods when legacy tariffs from Trump's first term are factored in.
President Trump also noted that the US government is on pace to pass one of the largest tax cut spending bills in history, which includes over $4 trillion dollars in cuts to government tax receipts, with the overwhelming majority of those tax cuts targeted at high net worth individuals. Effective tax rates are broadly expected to increase for US citizens at or below median income
Source: Fxstreet
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