Trump digs in on trade war, fires official after brutal jobs report

Washington – Despite the increasingly sad economic numbers that emerged at home, the Trump administration doubles the trade war against most of the world, and the stock exchanges and treasury returns are rolling on Friday, the most important slowdown in business growth since Pandemi.

Government data produced revised figures for the previous two months, which showed that the US economy has added much less – 73,000 jobs than expected in July, and that only 19,000 work was created in May, and in the midst of the widespread uncertainty over President Trump’s tariff policies and deep deductions in government employment.

Unemployment figures arrived a day after Trump signed an executive order that increased tariffs in 66 countries, and further advanced the global trade system for decades.

President of the White House Economic Consultants Council Reacted to the unemployment report The numbers are not what we want to see ”. But Trump answered Directing the team In order to expel the Bureau of Statistics Bureau, a non -partisan position responsible for supervising the statistical analysis of job data argues that numbers are politically “manipulated”. He was fired after hours.

Trump, the social media platform in the real Social, “our country’s business numbers”, Kamala’s chance of victory to try to increase the chance of victory of a biden who mimic the number of job numbers that mimic the number of job numbers that mimic the number of job numbers I was informed by Dr. Erika Mcentarfer, “he said.

In January 2024, Mcentarfer was approved by 86 to 8 Senate votes. This year or before the 2024 elections, it did not provide evidence to support manipulated data charges.

“We need the right job numbers. I immediately directed my team to ignite this political appointment.

Paradoxically, Trump and his team seemed to accept the reality of numbers by blaming the Federal Reserve President Jerome Powell for disappointing results.

Powell resisted the pressure of falling from Trump to interest rates from Trump to interest rates for months, stubbornly due to concerns about high inflation – and the possibility that the President’s trade war continues. The Federal Reserve Presidency is another position operating with independence.

White House Press Secretary Karoline Leavitt told Times, “Inflation has cooled, wages increased, unemployment stable and private sector is growing,” he said. “President Trump’s first agenda of the United States has enabled new jobs to go to American citizens instead of illegal or foreign workers. Tariffs are in line for billions of dollars to make our country rich again. Jerome ‘too late’ Powell needs to reduce the rates to continue the explosion.”

In the closing bell, the Dow Jones industrial average fell more than 500 points, while Nasdaq fell over 2.25%. The US dollar fell against other currencies. However, the most described moves may have occurred in the bond market that sees the hardest decreases in 10 -year and two -year treasury returns in a year.

Increased unemployment rate increased to 4.2%, out of the government data reported at the beginning of the week, which showed a dramatic decrease in import and consumer demand to the United States, which temporarily inflates the number of economic growth. In general, economists warn that the US Gross Domestic Product may grow less than 2% this year, which has the worst performance since the height of its pandema.

Trump has experienced problems with unemployment data for years, often one of his favorite terms, “fake”, to describe them. During the 2016 campaign, he argued that unemployment was worse than government figures; After entering the White House, he claimed that official data understood the power of the economy.

The timing of the latest job report comes politically for Trump, who sets up with steep tariff rates for negotiating trade agreements with the US for countries around the world on Friday.

Together with the European Union, South Korea, Japan, the United Kingdom and Vietnam, only a handful of framework agreements were made – others were shot with dozens of other nation ratio increases. The major trade partners have faced ruthless increases, which faced 25% import tasks of Brazil and India, which are currently encountering 50% in most goods.

Switzerland was multiplied by 39%, but most countries on the list, published by the White House, were given 15% tariff rates. New import taxes will enter into force on 7 August.

Since April 2, when Trump declared the “Day of Liberation” from a global free trade system, he warned that his new policies would destroy the US economy, increase prices and slow down in the short term while making internal decisions in the coming years.

“Good news, Tr Trump wrote on Friday,” Tariffs bring billions of dollars to the United States! “

Tariff discussions were not solved for Canada and Mexico, two of the largest US trade partners. Although Trump said that Friday is a solid deadline this week and not extended, on Thursday, the two countries continued to negotiate, while some Mexican goods will be delayed 90 days of new tariffs.

Canada, on the other hand, remains in a dead end with the President. Trump increased tariffs to 35% of many Canadian goods, which came into force on Friday.

Prime Minister Mark Carney said in a statement, “The Canadian government focuses on what we can control: Laser built by Canada strongly.

“We can give ourselves more than any foreign government can take it,” he added.