The U.S. economy is keeping its AA++ S&P Global Ratings, with the analytic firm finding President Trump’s tariffs will help soften the economic impact of his tax cuts.
The U.S. economy has had that score since 2011, when Standard and Poor’s downgraded the world’s largest economy from AAA, Bloomberg News reported Tuesday.
“Amid the rise in effective tariff rates, we expect meaningful tariff revenue to generally offset weaker fiscal outcomes that might otherwise be associated with the recent fiscal legislation, which contains both cuts and increases in tax and spending,” analysts wrote in a report.
When Trump began to rolling out his tariff-increase plan in February on U.S. trading partners, many economists predicted the U.S. economy and global financial markets would tumble.
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Author: Faith Novak
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