Washington sources reported that US President Donald Trump celebrated the six-month anniversary of the massive tax cuts he enacted and whose positive results are shown on the macroeconomic indicators of the country. As per report in a speech on Friday at the White House, Trump started off by saying "the economy is indeed doing well".
Trump said "Six months ago, we unleashed an economic miracle by signing the biggest tax cuts in American history and the wide-ranging plan that was passed last December includes big tax cuts for companies and the wealthy, with much more modest benefits for workers”. Meanwhile besides praising the effects of the tax cuts on workers' lives, Trump said that both domestic and international firms are now investing more in the US and opening new plants here, thanks to the new tax breaks.
Furthermore specifically, the President was on hand this Thursday as
construction of a new factory got underway in the state of Wisconsin for the
Taiwanese company Foxconn, an Apple supplier, which will create some 13,000 new
jobs, according to company executives. Moreover Trump mentioned several times the low unemployment rate, which in May stood at
3.8%. Despite the air of success at the White House, the US economy grew at an
annual rate of 2% in the first quarter of 2018, a figure well below Trump's
promise to reach an annual growth rate of 3%.
