(Feb 21): The White House acknowledged what many economists considered obvious through much of last year: President Donald Trump’s trade stance depressed economic growth and business investment.

“Uncertainty generated by trade negotiations dampened investment,” Trump chief economist Tomas Philipson told reporters in a briefing on the annual Economic Report of the President released on Feb 20.

The admission contrasted with Trump’s repeated assertions that his tariff tactics hadn’t hurt the economy while swelling the government’s tax coffers.

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