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Trump threatens trade cuts over Fed rates
U.S. President Donald Trump announced that he will refrain from engaging in trade with countries with which the United States records a trade deficit, unless the Federal Reserve (the U.S. central bank) lowers interest rates. This comes amid a strong U.S. labor market, where 162,000 jobs were added in August, exceeding expectations which had predicted about 55,000 new jobs. The unemployment rate remained at 4.1%, with nearly 7 million people unemployed. Trump believes that rising interest rates put the United States at an unfair competitive disadvantage, which is why he is pressing for a reduction to address the trade deficit and boost competitiveness.
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