On Friday, a G.D.P. report revealed that the U.S. economy is growing at a slower rate than expected. Gross domestic product is a metric that measures the goods and services produced by a country's economy. According to data released by the Commerce Department, the G.D.P rose by 2.1 percent -- a reduction from the 3.1 percent growth in the first quarter.
President Donald Trump dismissed the economic slowdown, claiming the U.S. economy still had "Zoom!" On Friday, the president tweeted: "Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom!"
Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our n… https://t.co/XhYbfHmFDb— Donald J. Trump (@Donald J. Trump)1564152026.0
On CNN Friday, Business Insider reporter Linette Lopez explained how Trump's trade wars might be slowing down economic growth.
"Can you blame a lot of this slower growth on the president's own trade war and his policies, what we're seeing in this report is that brings investment sentiment is way down, so investors are scared," Lopez explained. "Because of the trade war, we're seeing that exports fell 5.6%."
"We should note that last year's G.D.P. number which the president was very excited about, 2.9% annually was revised down to 2.5%," she added. "Now we know we were growing slower than we thought we were growing," she added. "And we're continuing to grow more slowly. If the president would stop with all these trade talks, things would be a lot easier, investors would feel a lot better, and businesses would start investing in the economy again."