U.S. Economy’s Second Quarter Surge Masks Underlying Damage from Trade War Policies

The Commerce Department’s recent update showing a 3.3% annualized growth rate for the U.S. economy in the second quarter might appear as good news on the surface. But scratch below that headline, and you uncover a more troubling story of economic uncertainty fueled by misguided trade policies crafted in Washington. Is This Growth Real or Just a Statistical Bounce Back? The headline number rose from an initial estimate of 3%, a revision driven largely by a sharp contraction in imports — which paradoxically boosts GDP figures since imports are subtracted in the calculation. This drop reflected businesses rushing to front-load...