STORY: Major policy risks cloud U.S. growth figures
SHOOTING TIME: File
DATELINE: Dec. 23, 2024
LENGTH: 00:01:08
LOCATION: Washington D.C.
CATEGORY: ECONOMY

SHOTLIST:
1. various of the U.S.
2. SOUNDBITE (Spanish): SEBASTIAN SCHULZ, Researcher at National University of La Plata in Argentina

STORYLINE:

The U.S. Department of Commerce reported the U.S. economy grew at an annual rate of 3.1 percent in the third quarter of this year, a steady increase from the second quarter's 3 percent and the first quarter's 1.4 percent.

For an overall picture, the International Monetary Fund (IMF) upgraded its U.S. growth forecast to 2.8 percent for the year 2024 in its World Economic Outlook released in October.

Although the U.S. economy performs well this year, analysts warn that some of the new administration's policies could expose the economy to significant risks in 2025, including rising inflation and worsening federal debt issues.

One such risk is the large-scale deportation policy promised by U.S. President-elect Donald Trump. 

Another major risk concerns tariffs. Economists generally agree that broad tariffs on trade partners would lead to higher prices, with the burden falling on U.S. businesses and consumers.

SOUNDBITE (Spanish): SEBASTIAN SCHULZ, Researcher at National University of La Plata in Argentina
"I believe that in the face of historical trends and the deepening of inclusive globalization, the tariffs proposed by the new U.S. government will not achieve the desired effects. They will not promote the relocation of transnational capital to the United States. Instead, they will lead to increased costs for food, raw materials, and energy, which will directly impact American citizens."

Xinhua News Agency correspondents reporting from Washington D.C.
(XHTV)