U.S. Economic News
May 13, 2019
U.S. News
The Wall Street Journal reports that China has announced it will raise tariffs to as high as 25% on $60 billion worth of U.S. imports on June 1 in retaliation for the U.S. increasing tariffs on $200 billion worth of Chinese imports. The Chinese tariffs will affect roughly 5,000 kinds of U.S. products currently taxed between 5% and 10%, including animal products, frozen produce, and chemicals. WSJ
According to the Wall Street Journal, the current tight U.S. job market has negatively impacted small business growth, as tiny companies struggle to attract and retain workers. Job growth at the smallest businesses has fallen to the lowest level in nearly eight years, with some small companies turning to automation and outside contracting to reduce the need for new recruits. WSJ