UPDATED 1:15 PM PT — Tuesday, January 22, 2019
President Trump is celebrating the success of the U.S. economy, while other large economies — specifically China — are seeing disappointing figures.
In a tweet Tuesday, the president said the U.S. has a great economic story to tell. He claimed the U.S. has the number one economy in the world by far.
The United States has a great economic story to tell. Number one in the World, by far!
— Donald J. Trump (@realDonaldTrump) January 22, 2019
The president’s comments come after data released Monday showed China’s economic figures falling below expectations. Many attribute that to the U.S. imposed tariffs, and President Trump’s hardline trade policies.
The U.S. and China have high-level talks scheduled for next week, and many business leaders and financial experts believe a deal will soon happen.
“I think initially the Chinese weren’t sure that President Trump really meant what he said about tough on trade, because he was very polite Xi Jinping,” said David Rubenstein, co-founder f Carlyle Group. “They now realize, in my view, that he’s very serious about this and they also realize this, that if he were to depart tomorrow, there is somebody behind him who supports the same views.”
Meanwhile, another trade deal that could impact the economy is the agreement between the U.S., Canada and Mexico. The USMCA still needs to be approved by lawmakers from all three countries involved, however, Canada is expressing optimism that deal will be signed off on.
“I know the political environment has changed, but we also know that it’s a good deal for Canada, the United States and Mexico, and we can make that argument persuasively as we did throughout negotiation, so I’m confident it will be ratified,” stated James Carr, Canadian Trade Minister.
President Trump has been confident in the NAFTA replacement, and the agreement has gotten support from both sides of the aisle.
With the opportunity for both of those deals to be wrapped up sooner rather than later, many believe 2019 has a chance to have the most economic success of any year since the president arrived in the White House.