Trump Touts Tariff Gains

Benzinga

Trump said tariffs strengthened U.S. wealth and security, citing a 60% drop in the trade deficit and 4.3% GDP growth, while critics and economists questioned rising costs and long-term sustainability.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Trump said on Saturday on Truth Social that tariffs have strengthened U.S.

00:07wealth and national security. He claimed tariffs cut the U.S. trade deficit by 60%

00:12and called the result unprecedented. Trump said GDP stands at 4.3% and is rising,

00:18adding that inflation is absent. The post followed new economic data showing third-quarter

00:23GDP growth of 4.3%. The U.S. trade deficit narrowed to $52.8 billion in September,

00:31the smallest gap since June 2020. Representative Adam Schiff criticized the tariffs and said they

00:37raised costs for Californians. Schiff said residents paid more than $1,000 this year for housing,

00:43groceries, and everyday goods. Trump credited his policies and tariffs for the GDP growth.

00:49Economists questioned whether the expansion is sustainable and debated the long-term

00:53economic effects of tariffs.

01:01For all things money, visit Benzinga.com.

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