Claim: Trump vows 'major' steps to aid U.S. economy amid coronavirus rise.
Verdict: SUPPORTS

Retrieved passages:
title: Economic policy of Donald Trump
text: tripled." Real GDP had grown a cumulative total of 3.1% from Q4 2016 through Q1 2018. On January 24, 2017, President Trump signed presidential memoranda to revive both the Keystone XL and Dakota Access pipelines. The memorandum is designed to expedite the environmental review process. On February 12, 2018, President Trump released his $1.5 trillion federal infrastructure plan during a meeting with several governors and mayors at The White House. Congress showed little enthusiasm for the plan, with "The Hill" reporting, "President Trump's infrastructure plan appears to have crashed and burned in Congress." Trends in inflation rates over the 2016-2018

title: Presidency of Donald Trump
text: a potential treatment against PTSD and chronic pain; veterans organizations had pushed for such a study. Prior to Trump's election, the American economy had been expanding for over seven years, with steady growth in employment, a declining unemployment rate, and steadily rising home values, stock values and household income/wealth. Trump's economic policies centered around tax cuts, deregulation, trade protectionism and immigration reduction. As candidate and president, Trump claimed his policies would spur much higher GDP growth, stating in December 2017, "I see no reason why we don't go to 4, 5, even 6 percent," figures that economists generally consider impossible

title: First 100 days of Donald Trump's presidency
text: 2017 Commerce Department report, in the first quarter of 2017, there was a "sharp decline from the 2.1% in Q1 2016 to 0.7% in Q1 2017—representing the weakest quarterly economic growth in three years. The report presents a statistical analysis of the American economy in the 2017 Q1—the gross domestic product (GDP). In spite of the soft GDP, by the end of Q1 2017, the S&P 500 was near an all-time high, representing a 12% rise from the first quarter of 2016, as investor confidence remained elevated based on Trump's promise to cut taxes, deregulate and spend heavily on infrastructure

title: Economic policy of Donald Trump
text: pace since 2012. The budget deficit increased from $587 billion in 2016 to $665 billion in 2017, an increase of $78 billion or 12%, the highest level since 2013. The trade deficit increased 12.6% in calendar year 2017, resulting in the largest trade gap since 2008. The Census Bureau reported that the number of uninsured persons rose from 27.3 million in 2016 to 28.0 million in 2017. The uninsured rate rose from 8.6% in 2016 to 8.7% in 2017. This was the first increase in the number and rate of uninsured since 2010. After-tax corporate profits declined 6.0% in 2017.

title: Economic policy of Donald Trump
text: with the American Voter", Trump also pledged to impose tariffs to discourage companies from laying off workers or relocating to other countries, through an "End the Offshoring Act". This was also unfulfilled as of December 2017. The BEA reported that real gross domestic product, a measure of both production and income, grew by 2.3% in 2017, vs. 1.5% in 2016 and 2.9% in 2015. Real GDP per capita increased in 2017 for the eighth consecutive year, its fifth consecutive record high. Discussing the second quarter 2018 GDP report, Trump stated, "We're on track to hit the highest annual average growth

title: Economic policy of Donald Trump
text: defied the wishes of much of the American business community he pretends to help, threatened America's competitiveness as well as job growth in crucial industries and squandered what was left of America's claim to leadership on an issue of global importance." The Editorial Board referred to Trump's argument that an agreement to fight climate change would hurt the U.S. economy as "bogus." President Trump began efforts to loosen regulations imposed on financial institutions under the Dodd-Frank Act, which was implemented following the 2007–2008 subprime mortgage crisis. The president also installed budget director Mick Mulvaney to lead the Consumer Financial Protection

title: Foreign policy of Donald Trump (2015-2016)
text: stealth technology. In November 2015, Trump promised to designate People's Republic of China a currency manipulator on his first day in office. He pledged "swift, robust and unequivocal" action against Chinese piracy, counterfeit American goods, and theft of U.S. trade secrets and intellectual property; and has condemned China's "illegal export subsidies and lax labor and environmental standards." In January 2016, Trump proposed a 45 percent tariff on Chinese exports to the United States to give "American workers a level playing field." When asked about potential Chinese retaliation to the implementation of tariffs, such as sales of U.S. bonds, Trump judged

title: First 100 days of Donald Trump's presidency
text: a product where there's not even a safety problem. So it's crazy. I'm surprised you can't get them to move faster than that." Trump had promised in March 2016, to reform the pharmaceutical industry, including the removal of existing free market barriers to allow imported, dependable, safe, reliable, and cheaper drugs from overseas, bringing more options to American consumers. Following Trump's press conference on January 11, "Fortune" claimed that the largest pharmaceutical companies had lost over $20 billion in 20 minutes. The Medicare Prescription Drug, Improvement, and Modernization Act (2003) expressly prohibited Medicare from negotiating bulk prescription drug prices and

title: Linda Moore (businesswoman)
text: to America’s Skills Crisis." "TechCrunch", March 4, 2016. "Computers Will Boost R.I. Students." "The Providence Journal", April 16, 2016. "Fix America's Ailing International Tax System." "The Hill", April 26, 2016. "5 Steps Trump Must Take to Grow Jobs and the Economy." "CNBC", November 16, 2016. "A Million New American Jobs? Our Nation's Startups Can Help With That." "The Hill", April 4, 2017. "A New Wave of Innovation and Job Creation." "Morning Consult", April 28, 2017. "Two Years After OPM Cyberattack, More Must Be Done." "Morning Consult", June 13, 2017. "Tax Reform Could Create 5 Million Jobs." "Washington Examiner", June 14,

title: Presidency of Donald Trump
text: Navarro as the first Director of the National Trade Council. In April 2017, Trump imposed a tariff on Canada's softwood lumber industry, following complaints from dairy farmers in Wisconsin about Canada's dairy pricing policy. The Trump administration announced a deal with China in May 2017 where China would increase imports of US beef, speed up its approvals of genetically modified products and allow foreign-owned financial groups to offer credit rating services in China while the United States would allow imports of cooked poultry meat from China, encourage exports of liquid natural gas to China, and tacitly endorse Beijing's geopolitical and

title: Economic policy of Donald Trump
text: American manufacturers to follow Harley-Davidson's lead and move production to less expensive markets. Shortly after being elected, Trump cited a handful of anecdotes to assert that foreign investment had begun pouring into America because of his election. However, aggregate statistical data showed that foreign direct investment—the total flow of investment capital into the United States from the rest of the world—declined sharply during Trump's first seven quarters in office, down 46% compared to the seven quarters immediately preceding his presidency. Concerned that China was acquiring advanced American technology, the Trump administration prepared to announce plans by June 30, 2018 to

title: First 100 days of Donald Trump's presidency
text: U.S. Steel's Mario Longhi, SpaceX's Elon Musk, International Paper's Mark Sutton, and Corning's Wendell Weeks promised to reward the companies who stay in the United States with aggressive cuts on U.S. federal regulations governing their companies by "75 percent or more." On January 31, Trump met with CEOs of pharmaceutical firms, including Novartis's Joseph Jimenez who also represented the Pharmaceutical Research and Manufacturers of America—the pharmaceutical industry's powerful lobbying group, Merck & Co.'s Kenneth Frazier, Johnson & Johnson, Celgene's Robert Hugin, Eli Lilly, Amgen's Robert Bradway. Trump called for lower prices, "We have no choice. For Medicare, for Medicaid. We

title: Economic policy of Donald Trump
text: current levels. Trump's has frequently throughout his presidential campaign changed his view as to whether the wealthy should see tax cuts or increases. Trump's campaign claimed that the combination of income tax cuts, deregulation, trade protectionism, and additional spending for defense and infrastructure would significantly increase economic growth and job creation. During Trump's first 100 days as president, the federal total public debt decreased by $101 billion, although it increased $546 billion over his first year. On August 8, 2016, Trump outlined a new economic plan that promised significant income tax cuts at all levels of income. The day before,

title: First 100 days of Donald Trump's presidency
text: 'Buy American' Tax Plan, which they claim would add a "whopping tax hike of more than $1 trillion on American families and small businesses over 10 years." The import tariff would raise prices at Wal-Mart, for example, directly impacting lower income families. "The Washington Post" reported on April 25, that Trump had agreed to delaying funding for the construction of the wall until September to avoid a government shutdown. On January 25, Trump signed an executive order, "Enhancing Public Safety in the Interior of the United States", to the Secretary of Homeland Security and the Attorney General and their departments

title: Economic policy of Donald Trump
text: would create economic growth of 1.12% above the baseline and create 1.7 million jobs in 2018, although there would be a much larger loss of jobs and economic growth by 2027 and further by 2040. The Wharton study results were based on a controversial "dynamic scoring model, rather than a standard static model used by the Tax Center. The Tax Foundation assessed that by 2025 the Trump tax plan would increase the long-run size of the economy by 6.9% to 8.2%, but by adding $2.6 trillion and $3.9 trillion to federal debt. This growth would lead to an increase in

title: Inauguration of Donald Trump
text: abandoned factories, economic angst, rising crime"—while pledging "a new era in American politics." After one year, the phrase "American carnage" has been said "the dark heart of Trump's inauguration speech, was relentlessly mocked for its dark and despondent view of the state of the country". Fact-checking organizations, such as FactCheck.org, PolitiFact, and "The Washington Post"s Fact Checker noted that Trump's portrayal of the United States in decline "did not always match reality." The fact-checking organizations noted, among other things, that the U.S. violent crime rate was far below its 1991 peak; that the U.S. economy had gained jobs for 75

title: Economic policy of Donald Trump
text: $13.7 trillion (CBO current policy baseline), a $4.3 trillion or 46% increase. The economic policy positions of United States President Donald Trump prior to his election had elements from across the political spectrum. However, once in office his actions indicated a politically rightward shift towards more conservative economic policies. Prior to election, then-candidate Trump proposed sizable income tax cuts and deregulation consistent with conservative (Republican Party) policies, along with significant infrastructure investment and status-quo protection for entitlements for the elderly, typically considered liberal (Democratic Party) policies. His anti-globalization policies of trade protectionism and immigration reduction cross party lines. This combination

title: First 100 days of Donald Trump's presidency
text: domestic product (GDP) in the first quarter of 2017—representing the weakest quarterly economic growth in three years—the S&P 500 was near an all-time high, representing a 12% rise from the first quarter of 2016, as investor confidence remained elevated. Although Trump had to concede to delay funding for the U.S.–Mexico border wall he had promised, narrowly avoiding a government shutdown a few days before the end of the first 100 days, his rhetoric may have contributed to a sharp drop in the number of illegal crossings at the Mexico–United States border. Trump signed 24 executive orders in his first 100

title: Economic policy of Donald Trump
text: as the Tax Cuts and Jobs Act or unusual events such as activity to avoid tariffs. Real GDP growth was 3.5% in Q3 2018, 4.1% in Q2 2018 (later revised to 4.2%) and 2.2% in Q1 2018. The 4.1% level was the highest since the 4.9% level in Q3 2014. There were four quarters with 4.1% or higher growth during the Obama administration (Q4 2009, Q4 2011, Q2 2014 and Q3 2014). The 4.1% figure was boosted by net exports, which contributed 1.1 percentage points to the total due to higher exports to avoid retaliatory tariffs. Critics doubted the sustainability

title: Economic policy of Donald Trump
text: experts have said that pulling out of NAFTA as Trump proposed would have a range of unintended consequences for the U.S., including reduced access to the U.S.'s biggest export markets, a reduction in economic growth, and increased prices for gasoline, cars, fruits, and vegetables. The Washington Post fact-checker furthermore noted that a Congressional Research Service review of the academic literature on NAFTA concluded that the "net overall effect of NAFTA on the U.S. economy appears to have been relatively modest, primarily because trade with Canada and Mexico accounts for a small percentage of U.S. GDP." In January 2016, Trump proposed