Mnuchin: Problems with Boeing 737 max could impact U.S. GDP
Topics: MNUCHIN BOEING U.S. GDP
U.S. Treasury Secretary Steven Mnuchin discussed the impact of new Iran sanctions, the upcoming signing of "Phase One" of a trade deal with China and the impact the problems with the Boeing 737 Max could have on overall GDP numbers in an interview with FOX News host Maria Bartiromo on "Sunday Morning Futures."
"For this year, we've been looking at 2.5 to 3%, as I said, it may be closer to 2.5 because of the adjustment of the Boeing numbers," Mnuchin said. "But this would have been 3% otherwise. There's no question that USMCA and the China deal are going to add significantly to growth."
"Now let me just say that there's no question that the Boeing situation is going to slow down the GDP numbers," Mnuchin told Bartiromo. "Boeing is one of the largest exporters, and with the 737 Max, I think that could impact GDP as much as 50 basis points this year. But we look forward to very healthy growth in 2020." ■