President Donald Trump has to finalize all the tariff deals with various countries so that the international trade system gains stability and provides the framework for an economic upturn, economist Peter Morici told Newsmax on Tuesday.
Morici, who is emeritus business professor at the University of Maryland, told “Wake Up America” that growth has actually slowed down in the first half of 2025. He said that growth during that period was only 1.5%-1.6%, which is well below the average growth of the past eight years in the United States.
Morici admitted that “the tariffs have created a lot of uncertainty. We don’t know where they are going to settle, so businesses don’t know what they can price at, because they don’t know what their import competition is going to be or what they might pay for imported components and things like that.”
Morici explained that this means American businesses are “swallowing a lot of the tariffs right now … and they’re also delaying investment and hiring.”
However, Morici emphasized that “the good news out of that is once things settle down, we should get a burst of hiring and investment, but we got to get there. The president has to finalize these deals so that there is more stability in the system.”
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