America’s economy surged in the second quarter of the year, as Donald Trump’s tariffs slashed imports and so boosted the country’s trade balance.
GDP jumped at an annualised rate of 3pc in the three months to June, above the 2.6pc predicted by economists.
It reverses the 0.5pc drop in the previous three months when imports had poured over the border as businesses sought to bring goods into the world’s largest economy before the worst of the President’s taxes on trade came into force.
Mr Trump immediately declared the number to be “WAY BETTER THAN EXPECTED!”
He called on Jerome Powell, the head of the Federal Reserve, to cut rates, referring to the central bank boss by the nickname “too late.”
