January 12, 2020

Mnuchin Says Boeing Woes Could Lop a Half-Point from U.S. GDP
(Bloomberg) -- Troubles at aircraft maker Boeing Co. could trim about half a point from U.S. GDP in 2020 but economic growth should still come in at about 2.5%, said Treasury Secretary Steven Mnuchin.Mnuchin discussed the growth outlook, plans to sign the first phase of a U.S.-China trade deal and new sanctions against Iran on Fox News Channel’s “Sunday Morning Futures.”“The president’s economic program is really coming together,” Mnuchin said.His assessment was more upbeat than many economists, who expect slowing growth. They say the economy had received a boost from the 2017 Republican tax cuts and from increased government spending, but that stimulus is starting to fade.Economists surveyed by Bloomberg News this month forecast growth this year of 1.8%, down from an estimated 2.3% in 2019. They put the chances of a recession happening over the next 12 months at 30%.Boeing’s 737 Max jetliner remains subject to a global flight ban after deadly accidents in late 2018 and 2019. The aftermath has cut more than $50 billion off the plane-maker’s market value, and it’s unclear when the grounded airplanes will be back in operation.The U.S. and China are slated to sign a “phase one” trade deal this week that includes Chinese commitments to respect American intellectual property, not manipulate its currency and engage in a $200 billion spending spree on U.S. farm products and other goods.The U.S. in return suspended plans to slap tariffs on some $160 billion of Chinese products while reducing duties on some others.Mnuchin said an English-language version of the detailed agreement will be released this week and a suggestion that some items already agreed to had been watered down over the past few weeks.President Donald Trump told reporters on Jan. 9 that he wants to start negotiations on phase two “right away,” but might not finish those until after the U.S. presidential election in November.Those negotiations would address long-standing American complaints not covered in the initial 86-page agreement, including Chinese government subsidies to its companies.The Treasury Department separately is advising the Trump administration to revive twice-yearly talks with China to discuss the economic relationship between the countries, according to people familiar with the matter.Such discussions, which would be separate from the phase two negotiations, would harken back to the strategic economic dialogue begun in 2006 when George W. Bush was president and which have been derided by China critics as mere talking shops.To contact the reporters on this story: Rich Miller in Washington at rmiller28@bloomberg.net;Hailey Waller in New York at hwaller@bloomberg.netTo contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Ros Krasny, Justin BlumFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Henry Cavill Slams Haters & Defends Girlfriend Natalie | E! News
May 15, 2021
dfzIaiKENnk
Don Lemon Clarifies Leaving CNN Remark He Made On-Air | E! News
May 15, 2021
vqnHp6_Kna4
Shanna Moakler Removes Travis Barker's Tattooed Name From Wrist | E! News
May 15, 2021
xtau0ZaV-Jc
Salt Bae's Beverly Hills Restaurant Nusr-Et a Gigantic Hit | TMZ
May 15, 2021
F-nO476Bbec
Tamika Mallory Says Activists Can't Ease Up After Chauvin Conviction | TMZ
May 14, 2021
TNsaNa5bB2U
Whoopi Goldberg's Shocked Ellen DeGeneres' Talk Show is Ending | TMZ
May 14, 2021
yYV2uk_kxBE
Sexual assault lawsuit against Kevin Spacey set to be dismissed | Page Six Celebrity News
May 14, 2021
XsUgmiSAT34
Jennifer Lawrence freaks out over Jennifer Lopez-Ben Affleck reunion | Page Six Celebrity News
May 14, 2021
J7JocMfYXiw
Prince Harry slams Joe Rogan over vaccination remarks | Page Six Celebrity News
May 14, 2021
Mj3yqnp1GaE
Yara Shahidi on Playing Tinker Bell and the Legacy of 'Black-ish'
May 16, 2021
LsvrVebv9JQ
Henry Golding was Excited to Play 'Period F--kboy' Mr. Elliot in 'Persuasion'
May 16, 2021
Am1ARO1JLGk
Anthony Mackie Talks Sebastian Stan's Shocking Tommy Lee Transformation
May 16, 2021
D4EdN5RHEMg
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
19
Nov
ASIAN CHAMPIONS LEAGUE: Group H
Sydney FC - Shanghai SIPG
17
Nov
UEFA NATIONS LEAGUE A: Group Stage
Spain - Germany
14
Nov
UEFA NATIONS LEAGUE A: Group Stage
Germany - Ukraine
08
Nov
ENGLAND: Premier League
Manchester City - Liverpool
08
Nov
ENGLAND: Premier League
Arsenal - Aston Villa
08
Nov
SPAIN: La Liga
Valencia - Real Madrid
08
Nov
ITALY: Serie A
AC Milan - Verona
08
Nov
ENGLAND: Premier League
West Bromwich Albion - Tottenham Hotspur
08
Nov
ITALY: Serie A
Bologna - Napoli
08
Nov
ITALY: Serie A
Genoa - Roma
08
Nov
ITALY: Serie A
Atalanta - Inter Milan
08
Nov
ITALY: Serie A
Lazio - Juventus
08
Nov
GERMANY: Bundesliga
Bayer Leverkusen - Borussia Monchengladbach
08
Nov
ENGLAND: Premier League
Leicester City - Wolves
08
Nov
GERMANY: Bundesliga
Wolfsburg - Hoffenheim
08
Nov
SPAIN: La Liga
Real Valladolid - Athletic Bilbao
08
Nov
SPAIN: La Liga
Levante - Alaves
08
Nov
SPAIN: La Liga
Real Sociedad - Granada CF
08
Nov
ITALY: Serie A
Torino - Crotone
08
Nov
SPAIN: La Liga
Getafe - Villarreal
07
Nov
GERMANY: Bundesliga
Borussia Dortmund - Bayern Munich
07
Nov
ENGLAND: Premier League
Everton - Manchester United
07
Nov
ENGLAND: Premier League
Chelsea - Sheffield United
07
Nov
SPAIN: La Liga
Atletico Madrid - Cadiz
07
Nov
SPAIN: La Liga
Barcelona - Real Betis
07
Nov
GERMANY: Bundesliga
Augsburg - Hertha Berlin
07
Nov
GERMANY: Bundesliga
Stuttgart - Eintracht Frankfurt
07
Nov
GERMANY: Bundesliga
RB Leipzig - SC Freiburg
07
Nov
ENGLAND: Championship
Rotherham - Preston NE
07
Nov
ITALY: Serie A
Parma - Fiorentina
07
Nov
ENGLAND: Championship
Watford - Coventry
07
Nov
ENGLAND: Championship
Norwich City - Swansea City
07
Nov
ENGLAND: Championship
Blackburn - QPR
07
Nov
ENGLAND: Championship
Derby County - Barnsley
07
Nov
ENGLAND: Championship
Huddersfield - Luton
07
Nov
ENGLAND: Championship
Nottingham Forest - Wycombe Wanderers
07
Nov
ENGLAND: Premier League
West Ham United - Fulham
07
Nov
ENGLAND: Championship
Sheffield Wednesday - Millwall
07
Nov
ENGLAND: Championship
Brentford - Middlesbrough
07
Nov
ENGLAND: Championship
Birmingham - Bournemouth
07
Nov
SPAIN: La Liga
Sevilla - Osasuna
07
Nov
ITALY: Serie A
Benevento - Spezia
07
Nov
ENGLAND: Premier League
Crystal Palace - Leeds
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Ferencvaros - Juventus
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Barcelona - Dynamo K.
03
Nov
CHAMPIONS LEAGUE: Group stage, Group A
Salzburg - Bayern Munich
03
Nov
CHAMPIONS LEAGUE: Group stage, Group D
Atalanta - Liverpool
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.