![]() tariffs on China, as their associated costs have largely been passed down to them and importing firms in the form of higher prices.” During 2018, the U.S. are bearing the heaviest brunt of the U.S. A study by UNCTAD concluded that “consumers in the U.S. and China on trade is negatively impacting not just these two countries but many others. However, problems linger with regards to its trading partners and Trump's trade wars, rising debt levels, and its industrial output, among other issues. With the jobless rate hitting record lows at 3.5%, contribution to GDP coming from a majority (17 out of 22) of industry groups and the stock markets soaring at all-time highs, this has been a great period for the U.S. economy is primarily a service- oriented economy with a 77% contribution to GDP. ![]() The United States, the world’s largest economy with a nominal GDP of $21.44 trillion, constitutes one-fourth of the world economy. ![]()
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