Trump: I Will Halt Trade with Some Countries If the US Federal Reserve Does Not Cut Interest Rates

Al-Taj News – US President Donald Trump said Friday that he would halt trade with countries with which the United States runs a trade deficit unless the Federal Reserve (the US central bank) cuts interest rates.

Trump wrote in a social media post: “High interest rates put the United States in a very unfair position competitively, and I will not allow that to happen!”

The US economy added more than three times the number of jobs expected last August, indicating continued strength in the labor market, which strengthens the arguments calling for the Federal Reserve (the US central bank) to raise interest rates at its upcoming meeting in September.

Data from the US Bureau of Labor Statistics showed Friday that nonfarm payrolls increased by 162,000 jobs in August, compared with economists’ expectations in a Bloomberg survey for an increase of only around 55,000 jobs.

The unemployment rate remained unchanged at 4.1%, while the number of unemployed people stood at around 7 million.