Daily Archive: October 26, 2020

Economists expect historic GDP numbers this week, but it’s unlikely to help Trump

On Thursday, the government will announce what will almost surely be the strongest economic growth number in U.S. history. Yet it will do President Trump little, if any, good.

The number will be third-quarter GDP growth. The Federal Reserve Bank of Atlanta, the Chicago Fed, the Conference Board, and Goldman Sachs all estimate it will be between 30% and 35%. Even if the real number is substantially lower, it will still be historic. Such an explosion of economic activity in the world’s largest economy is unprecedented in the history of GDP calculations, which goes back to the Great Depression.

Data like that coming five days before a presidential election ought to be a priceless gift to the incumbent. That’s especially true considering that the economy is by far the No. 1 issue with voters. The latest Gallup poll finds that 89% of registered voters consider it “extremely” … Read More

U.S. regrets EU move on tariffs, seeks deal on Boeing-Airbus row: speech By Reuters

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© Reuters. FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the NYSE in New York

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GENEVA (Reuters) – The United States on Monday told the WTO that it regretted the European Union’s decision to pursue retaliatory tariffs for Boeing (N:) subsidies, adding it favoured a “negotiated resolution” with the bloc over its subsidies to rival planemaker Airbus (PA:).

The U.S. speech, seen by Reuters, came at a meeting of the World Trade Organization’s Dispute Settlement Body (DSB) which gave its formal clearance on Monday for the EU to impose tariffs on $4 billion of U.S. goods.

“The United States strongly favours a negotiated resolution of its dispute with the EU over the massive launch aid subsidies it provided to Airbus. The United States has recently provided proposals for a reasonable settlement that would provide a level playing field,” the U.S.

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