International
Trump would ravage US economy, German govt. says
According to an internal memorandum reported by Der Spiegel magazine on Saturday, Germany’s economy ministry believes a Donald Trump presidency would severely damage the U.S. economy.
The ministry expects “shrinking gross domestic product, fewer jobs and higher unemployment,” in the United States if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying.
Read also: Anger in Uganda over shooting of Alfred Olango by US cop
Trump has proposed tax cuts worth $4.4 trillion and wants to curb government regulation and take a tougher stance on negotiating trade deals.
According to him, his economic plan would produce annual economic growth of 3.5 percent and create 25 million jobs over a decade. But some economists have questioned the assumptions underpinning the plan.
Trump’s pledges are “not feasible”, Spiegel cited the memorandum as saying. Moreover, the plans would violate international or U.S. law and could be “no basis for a realistic economic policy.”
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