Home Sales Drop, GDP Estimates Shrink, and Trade Deficits Widen As Trump’s Trade Deal With China Falls Through
As June sizzles to a close, Donald Trump’s economy is teetering on edge. New home sales continue to drop, first quarter GDP estimates shrunk, the U.S. merchandise trade deficit is widening even amid Trump’s disastrous tariffs, and American manufacturers are without crucial supply of raw materials as China reneges on a Trump-brokered trade deal.
And while Trump drives the economy into a ditch Republicans are hammering out just how severely to slash essential health care for vulnerable seniors and children so they can line the pockets of Trump and his billionaire friends. Recent polling shows that just 35 percent of Americans approve of Trump’s handling of the economy – and these numbers make it clear they have good reason to be fuming.
HEADLINES
- 🏡 Sales Of New Homes Tanked In May, Pushing Supply Up To A 3-Year High (CNBC).
- 🌊 More Homeowners Find Themselves Underwater (The Wall Street Journal).
- 📉 U.S. Economy Shrank 0.5% Between January And March, Worse Than Earlier Estimates Revealed (AP News).
- 🔻US First-Quarter GDP Revised Lower On Tepid Consumer Spending (Reuters).
- 🛒 US Merchandise-Trade Deficit Unexpectedly Widens on Exports Drop (Bloomberg).
- 🪨 China Is Still Choking Exports of Rare Earths Despite Pact With U.S. (The Wall Street Journal).