Last year’s growth was the weakest since Trump took office, according to Commerce Department data released Thursday.
after the two 737 Max plane crashes also dampened growth since Boeing is usually the largest U.S. exporter but orders dried up after the tragedies.
Trump has frequently boasted about the economy’s performance since his election. Growth so far during his tenure in office has exceeded the average under President Obama’s and President George W. Bush’s first or second terms, but it is not unprecedented growth. Growth under President Clinton and President Reagan both exceeded Trump’s average so far.
Trump’s tax cuts that took effect in 2018 gave businesses the biggest reduction in their tax bills in U.S. history. The vast majority of Americans also saw a reduction in their tax bills. But most economists say the boost from the tax cuts was heavily curtailed by Trump’s trade war.
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