President Donald Trump (Foto:Wikipedia)
The decline in gross domestic product (GDP) during Donald Trump’s first three months in office is linked to the trade war that has hit American businesses,writes Nordic News. It is the first decline in the US economy in three years.
Trump inherited a solid economy that had grown steadily despite the Federal Reserve’s high policy rate to fight inflation.The economy was hampered by a sharp increase in imports as American companies tried to import foreign goods before Trump imposed steep tariffs.
In the last three months of 2024, the economy grew by 2.4 percent. Consumer spending and government spending also fell significantly.
Hundred days in Office
Last night – to mark Trump’s 100 days in office celebrations – the Trump administration proudly put out a statement touting its economic achievements, including investments from some of the firms whose CEOs are in town for the president’s event writes BBC .
The statement boasted of over $5tn (£3.74tr) in investments, which it claims will create over 450,000 new jobs and usher in an age of «American prosperity».
Among the current and planned investments listed are $500bn from Japan-based SoftBank and US-based OpenAI and Oracle, another $500bn from Apple in US manufacturing and training, $500m from Nvidia for US-based AI infrastructure.
Stagflation could follow
Additionally, the White House statements pointed to foreign investments pledged by foreign governments, including $1.4tn from the UAE, $1tn from Japan and $600bn from Saudi Arabia. We have been discussing the term Multinational product(MNP) as a method to find out how direct investments across borders can create jobs. As a part of this, the term «Stagflation», could appear. That means that inflation is raising while the demande in the markets is falling. This could be the reality if president Donald Trump is introducing customs as big as a Troll. The Scandinavian word Troll is probably used in the English German and Fench language: Let us think that Donald Trump wants to be a candidate for Nobel Price in Economy in the next three years , his start as president is not promising.
Peace in Ukraina
Today we heard a debatt in the Swedish Radio about the possibility for the american president to get the Nobel Peace Price after having brougt peace to Ukraina, and stopped the Russian aggression . The former prime minister Winston Churchill, who stopped the second world war together with Dwight D. Eisenhower from Tragara Hotel on the Island of Capri in Italy. Churchill did not get the peace price, but the Nobel Price in litteature after publishing a long series of books about world history. This is a comment written by editor Nils Petter Tanderö in English.
