00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump said on Saturday on Truth Social that tariffs have strengthened U.S.
00:07wealth and national security. He claimed tariffs cut the U.S. trade deficit by 60%
00:12and called the result unprecedented. Trump said GDP stands at 4.3% and is rising,
00:18adding that inflation is absent. The post followed new economic data showing third-quarter
00:23GDP growth of 4.3%. The U.S. trade deficit narrowed to $52.8 billion in September,
00:31the smallest gap since June 2020. Representative Adam Schiff criticized the tariffs and said they
00:37raised costs for Californians. Schiff said residents paid more than $1,000 this year for housing,
00:43groceries, and everyday goods. Trump credited his policies and tariffs for the GDP growth.
00:49Economists questioned whether the expansion is sustainable and debated the long-term
00:53economic effects of tariffs.
01:01For all things money, visit Benzinga.com.
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