While the White House had as a tenant Donald Trump the economy largest in the world worst performance from the government of Herbert Hoover (1929-1933), when the 1929 crisis broke out.
Right away Gross domestic product (GDP) 20 times bigger than Mexico’s, the Economy of the United States (EU) registered an annual growth of 1% during the time that Trump ruled (2017-2020).
This after an average growth of 1.6% with Barack Obama (2009-2016), 2.2% with George W. Bush (2001-2008) and 3.9% with Bill Clinton (1993-2000), according to statistics from the United States Department of Commerce.
The last time Mexico’s main trading partner grew so little was when Hoover ruled the American Union between 1929 and 1932, and the economy contracted 5.3% after the so-called October 1929 came into existence. Great Depression, which was replicated almost all over the world and lasted throughout the 1930s.
It also says: Within hours of leaving power, Trump stops deportation of Venezuelans and issues work permits
Nearly nine decades later and after the expiration of 13 presidents, Trump took control of the richest country in the world and pursued a policy of tax cuts and higher government spending, which enabled him to achieve good economic results before the arrival of Covid-19.
If 2020 is ruled out, when the worst devastation of the pandemic was felt, the GET STARTED the United States registered an average rate of 2.5%, the highest since Bill Clinton.
There are analysts who believe that if the coronavirus had not broken out as the worst health crisis in 100 years, nor killed so many Americans, more than 400,000 so far, Trump may be on the verge of ratifying a second term, thanks to the expansion that had the economy during his reign.
job
During the New Yorker’s four years, 2.8 million jobs were lost, although the net of 2020 balance was positive in 6.6 million positions, according to figures from the U.S. Department of Labor.
He also reads: One day after Trump’s farewell, the peso reaches its best level against the dollar in 10 months
This is the most drastic job destruction in an administration since there is a similar record, beginning with the tenure of Franklin D. Roosevelt (1933-1944).
Inflation
Under Trump, consumer inflation reported an average annual rate of 1.9% with a pandemic and 2.1% without a pandemic. In both cases, it was higher than Obama’s, when an average of 1.4% was reported, although the increase was lower than Bush’s when prices rose 2.8%, data from the U.S. Department of Labor indicates.
Markets
Trump bids farewell to the White House as the New York stock markets boom, in part because corporate tax cuts allowed them to increase their net income.
The Dow Jones Industrial Average, which brings together the 30 largest companies in the American Union, posted a profit of 56% during his tenure and reported 141 days of record highs, results not seen since Clinton.
It also says: The US is carrying out the final implementation of the Trump mandate
Considered the most representative index of the actual state of the US market, the Standard & Poor’s 500 added a return of 67% and 166 sessions of maximums, while the Nasdaq technology indicator was up 138% and broke 213 days of records.
Trade
Tensions with China and uncertainty about world trade will possibly be Trump’s most memorable legacy. During his administration, the US Union’s trade balance reached a $ 2.3 trillion deficit, compared to the $ 2 trillion Obama reported in his first four years, the Commerce Department said.
The United States retained the largest negative balance with China and second with Mexico, where it ran a $ 357 billion deficit in merchandise purchases and sales over the past four years.
Expectation
The International Monetary Fund estimates that the US economy will report an average annual rate of 2.5% during Joe Biden’s first term, from 2021 to 2024. If this scenario is confirmed, it will be the same growth rate that Trump maintained before the pandemic.
Also read: Mistrust, the legacy in transatlantic relations
However, the so-called land of freedom and opportunity will still be outdone by the rest of the world, as the same agency estimates that the global economy will grow 4.2% over the next four years.