Donald Trump’s arrogant route for the dose of the domestic reality of the Middle East on Friday when the president went home to a reduction of credit rating, bleak data on the feeling of the consumer and challenges to his flagship bill.
Around the last two weeks, Trump has seen that his approval ratings improve and the capital markets are strongly after stopping some of the most aggressive import rates he announced in early April. The labor market and inflation data also have leg encourages, deactivating fears that acute deceleration or even a recession can be imminent.
But while the president was aboard the Air Force and the route to Washington from Abu Dhabi, Moody’s stripped the United States of his first-level triple-a credit-a credit qualification about concerns about the increase in government debt levels.
“For those looking for a signal to tell us when to stop adding to our national debt, they should not go beyond Moody’s reduction,” said Michael Peterson, executive director of the Peter G Peterson Foundation.
“It is unacceptable that a great country like the United States will make its own credit rating.”
Early in the day, the observed survey close to the University of Michigan about the feeling of the consumer showed that the trust had fallen to its second lowest level recorded, since the expectations of the inflation of the people shot themselves.
And shortly after, Trump suffered a setback in Capitol Hill when conservative intransigents in the budget committee of the House of Representatives voted against their largest national legislative objective: a broad bill to extend tax cuts.
The difficult policy is a comedada of the PACTS and the multi -million dollar investment agreements of Economic Association and Investment Agreements signed the president of the President for Saudi Arabia, Qatar and the United Arab Emirates this week.
Accompanied by the Falange of Business Leaders led by Elon Musk, as well as senior cabinet officials, including Scott Besent, the United States Secretary of the Treasury, and Howard Lutnick, the Secretary of Commerce, a buoyant Trump saw the amreings as an AA A Vididenze agreements.
“It is the new industrial revolution, and is promoted by Donald Trump and will be incredible work for Americans,” Lutnick told Fox News in an Eau.
Back in Washington, Trump has the approval of what he calls the “Great Beautiful Law” to relieve part of the coup to the homes and companies of the president’s new rates, and restore confidence in his administration of the economy.
The destination of the Tax Law is increasingly taking the center of the stage in Washington, since Trump and republican leaders in the lower Congress Chamber gather the most majority to approve the legislation.
But on Friday there was a great setback in his progress when he could not advance in the Chamber Budget Committee.
The Republican of South Carolina, Ralph Norman, who was one of the groups that opposed the bill, said: “If we are going to have.
Shortly after the vote, Trump published in X: “The Republican must join Beind”, the only Big Beutify bill! “.” We do not need ‘grandparents’ in the Republican party. Stop talking and do it! “
Meanwhile, moderate Republicans in the districts of Battleground insist on more generous tax deductions for state and local tax payments, known as “salt”, another conflict point that the president will have to find a path.
Even if the dead point is broken in Capitol Hill, fiscal hawks have warned that implications for public fines of the United States could be disturbing.
The committee of a responsible federal budget, a bipartisan group, warned Friday that the legislation would add $ 3.3TN to the debt of the United States in a decade and run the risk that bond investors similar to the budget crisis of the United Kingdom of 2022.
“The current fiscal situation of the United States is worse than that of the United Kingdom, and the impact of package deficit currently under consideration is equally greater than the armor package. Markets may not be too friendly,” said the CRFB in a publication.
The terrible data of the feelings of the consumer on Friday did not reflect the impact of the agreement by the United States and China in Switzerland at the beginning of the week to discourage their commercial war and knock down the Tit tariffs for an eye that had been slapped from early.
But Walmart, the world’s largest retailer, warned this week that he would have to raise prices in his stores despite the American-China decent, and economists said that the hesitant feeling of the consumer was an additional sign of that anxiety.
An average of Realclear Politics surveys this week found that 50.1 percent of Americans disapprove or Trump’s performance as president, while 46.1 percent approve.
Although the 4 percentage 4 -point deficit is narrower than the 7.1 points in the approval it had at the end of April, it is a great fall in the 6 percentages advantage that he published in January at the beginning of his second term.
“The fears of the inflationary impacts of the tariffs remained the greatest source of pessimism for consumers, even when the recent conversations to reverse some rates led to a substantial recovery for the stock markets,” Oxford Economics wrote in a note on Friday.
He added: “Consumers have also worried more about their personal finances and expect a union in income growth.”
Additional reports from George Steer
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