US President Donald Trump listens to a question during a press conference at the White House in Washington, September 4, 2020.
Leah Millis | Reuters
President Donald Trump predicted a strong economic rebound next year and said on Monday that the United States was “rounding the last round” of the coronavirus pandemic.
Speaking to reporters at the North Portico of the White House, Trump touted the latest non-farm payroll report which showed a sharp drop in the unemployment rate and said if he is not re-elected, the rebound of the pandemic would stop.
“We are currently seeing the fastest labor market recovery in history,” he said. “Next year will be the biggest economic year in our country’s history, I predict.”
Trump spoke three days after the Department of Labor report creation of nearly 1.4 million jobs in August and a drop in the unemployment rate from 10.2% in July to 8.4%. About half of the jobs lost during the pandemic have been recovered, though economists and health experts fear that a resurgence of Covid-19 in the fall and winter could dampen these gains.
However, Trump said the economy was recovering in a V-shape, “probably a super V,” and noted recent record moves in the stock market.
He also encouraged progress towards a vaccine, saying a vaccine was possible as early as October, although there is no evidence to suggest that is likely at this point. Trump has described the United States as “a leader in all respects” over other countries in containing the virus.
“We have done an incredible job at speeds like no one has seen it before,” he said. “It could have taken two or three years. Instead, it is done in a very short time. We could even have [a vaccine] in October. “
The United States has recorded nearly 890,000 cases of Covid-19 and 189,028 deaths, according to the Johns Hopkins University monitoring. The 5-day moving average for cases is 40,714, well above what it was in the spring but below the high of 69,451 in mid-July.
Along with his thoughts on the economy and the virus, the president has launched persistent criticism of his opponent in the November election, the former vice president. Joe biden.
“If Joe Biden becomes president, China will own the United States, and all other countries will smile as well,” Trump said.
Trump also entertained the idea of ”decoupling” from China or refusing to do business with the nation. “There has been no country anywhere at any time that has ripped us off like China is doing,” he said.
On another topic, he further denied what he called “bogus” recent press reports which cited unidentified sources claiming that Trump disparaged the veterans during a trip to France two years ago. .
“Who would say such a thing? Only an animal would say such a thing,” he said.