U.S. Economic News

January 8, 2018

U.S. News

Ben Leubsdorf of the Wall Street Journal writes that few economists expect the recently-passed tax cut bill to boost long-run economic growth in the U.S. While many economists expect the tax cuts to provide a short-term boost to spending and business investment in 2018, they don’t expect the tax cuts to fundamentally alter worker productivity or the labor force participation rate, the two factors that determine long-run potential growth. WSJ

According to the Wall Street Journal, the U.S. agricultural community is seeking signs from President Trump that he will not withdraw from the North American Free Trade Agreement (“NAFTA”). The agricultural community has staunchly opposed a potential U.S. withdrawal from NAFTA, which would result in much higher tariffs on American farm commodities and would pose a threat to the nearly $40 billion in annual agricultural exports to Canada and Mexico. WSJ