But Trump, speaking in Pennsylvania before boarding Air Force One, blasted the July report showing only 73,000 jobs were added.
The figures for May and June were also revised down by a net of 258,000 jobs. "Rigged," Trump said of the numbers in a Truth Social post, adding the ratings were meant to hurt his image and Republican backing."The numbers were insane."
White House Defends Decision
Among them was National Economic Council Director Kevin Hassett, who sought to defend the decision as Trump "wants his own people" leading the agency.
Hassett told the media that while there was "nothing in this data" as of partisan behavior, he saw "diffusion" in some sectors that are seen as influenced by politics. Junker also noted the reported 50-year low in the GDP revision justified more caution.
Increasing Trade Deals & Tariffs
The Trump administration is moving forward with more tariffs as political tensions boil at home. Hassett said trade frameworks with a number of trading partners were "truly in the final stages," and indicated new tariffs would be taking effect on Thursday.
Some, like Brazil (50%) and Myanmar (40%), face much steeper duties than others, such as Japan, South Korea, and the EU, all of which have 15% on their steel.
Those tariffs are some of what Trump had earlier referred to as "90 deals in 90 days," most of which have gone unfulfilled.
Some services are being done at rates lower than the aggressive "Liberation Day" from earlier this year, but economists remain worried. Inflation has already begun to manifest in the prices of consumer goods such as clothing, toys, and furniture.
Hassett played down the market reaction to that news, and said there would be no retreat from tariffs regardless of investors' reactions: "These are the final deals.
US-China Trade Deal Still Uncertain
Status of trade deal with China: Unresolved. While talks are taking place, US Trade Representative Jamieson Greer said that the August 12 deadline might be extended, CBS News reported. The US Treasury Secretary confirmed that Trump and Chinese President Xi Jinping have an ongoing dialogue, although progress is slow.
The US and China are inextricably intertwined. But the US also needs China to make pharmaceuticals, electronics, and rare-earth minerals, for example, even as American farmers need to export their soybeans.
Economists caution that an all-out trade war would hurt the economies of both countries.
While Trump pushes for greater command of economic data and trade talks, his own party warns that the administration may be crossing perilous new lines between policy and politics around the world.
