The Trump Rally in Ohio- Morrison Praised at Pratt Industries Opening

With the global trade on a rise, economies are thriving to maintain robust trade and commerce relationships with optimism, to benefit from the international business. According to the World Health Organization, the world merchandise trade volume is predicted to rise 2.6 percent in 2019 period, with a GDP’s progress rate of 2.6 percent. The trade growth is likely to be 3% in 2020 (GDP growth to be consistent at 2.6%) and is anticipated to outpace the GDP growth in 2020 period.

The Trio in Discussion

This article revolves around the three big names on the global front- Donald Trump, Scott Morrison and Anthony Joseph Pratt. Mr Trump is the current and 45th President of the US, Mr Morrison is the current and 30th Prime Minister of Australia whereas Mr Pratt is a renowned Australian billionaire and businessman and holds the Chair of Visy Industries and Pratt Industries in America (the world’s largest privately-owned packaging and paper company and America’s 5^th largest corrugated packaging entity).

Pratt Industries’ Divisions (Source: Company’s Website)

The three of them have been trending, post the inauguration of Pratt Industries and the Trump Rally in Ohio, which is a midwestern US state, dominated by the agriculture and industry. Let’s understand all that one needs to know regarding the same:

Trump and Morrison visit Ohio

Regarded as a 2020 re-election strategy, President Trump visited Ohio recently, along with the Aussie PM Scott Morrison, with the intention to highlight US’ investment partnership with Australia. This visit has been historic, as it makes Mr Morrison the first Australian Prime Minister to visit Wapakoneta.

Moreover, the powerful duo visited a new factory in Wapakoneta, which is an Australian-owned recycled paper factory being opened by Anthony Pratt, who has been creating quite a buzz for investing billions of dollars in the US, and consequently being appreciated for creating numerous manufacturing jobs. The plant is anticipated to start in a few weeks’ time, and one in four workers at the plant is said to be a veteran.

Trump- Morrison- Pratt Sociable Gesture

Acknowledging and appreciating the Australian PM, Mr Trump stated that Mr Morrison has been a great PM and friend. He further mentioned that Ohio was open for more business and was part of an economic revival. Mr Morrison was warmly welcomed with upbeat cheers at the rally and addressed as the Don Bradman of the Australian job creation, by Mr Pratt. The trio was noticeably celebrating the emerging job opportunities, and Mr Morrison stated that they believe in the way jobs transformed lives. Regarding it as an amazing achievement for America, he added that the country had recorded the lowest unemployment rate in a long time, all thanks to Trump’s tenure.

Mr Trump further stated that Australia was one of the America's greatest friends and loyal allies. It should be noted here that America is by far the largest investor in Australia. Further, praising Australia, Mr Trump expressed that he believed that Australia endorses the values of honest and reciprocal trade.

The crowd was seen consistently cheering for the trio, with flags, banners and in Make America Great Again caps, as Mr Trump declared Pratt Industries open for business.

Benefit of the Wapakoneta factory

The highlight of the event was the gesture of acceptance for the new paper and recycling plant by the locals, as it would generate 1500 construction related and 230 permanent jobs, along with wages being paid. The quality health care, retirement benefits and great wages through the full-time jobs were much appreciated by the locals. Moreover, foreign investments and further job surge is anticipated, post functionality and operations’ commencement. The second highlight of the event was the company tax cuts, which had been lowered down from 35% to 21%.

The Experts’ Opinion

Given the opening of the new business, experts believe that the move would aid the US manufacturing sector, which has been of late in the red zone, and has been contracting for the first time in the three years period, making the US conscious and worried about the economy’s overall health. Moreover, with the much-needed positive global trade relations in times of a global economic turmoil, the event is looked upon as a a strong bond between the United States and Australia, as the countries celebrated the extraordinary economic partnership between the two nations.

Trump Extends Warm Gesture towards India

Before meeting Mr Morrison and Mr Pratt, Mr Trump met the Indian Prime Minister Narendra Modi, in a houseful NRG Stadium of Houston, with the intent to highlight the growth of the American exports to India and the billions of dollars spent by India on America’s defence equipment. Two of the world’s renowned democracies, the nations reported unity between them amid the ongoing trade tensions.

The Trade War Amid Positive Developments

We discussed positive relations and brimming optimistic alliances between the nations, which is a dire need of the hour in the current times. However, the on-going trade war between two powerhouses of the globe cannot be unseen amid these negotiations:

So far, 2019 has been a year of the protracted US and China trade war turmoil, which has been a key focus for markets over the past 18 months or so. In March last year, Mr Trump had imposed tariff hikes of up to 25 per cent on $250 billion of the Chinese goods. In response, China imposed likewise tariffs on $110 billion of the American goods, which triggered the two biggest world economies to stand in a face-off. The impact of this has been far-reaching, beyond the US and China’s borders and extends across Asia and Europe. As a result of it, the global economy has slowed down, business and consumer confidence has slumped, and investment plans are in disarray. Moreover, the banks have had eased the interest rates, while markets have noticeably witnessed the weakening of trade.

After approximately 12 rounds of negotiations, a robust deal to end the trade trouble has ceased to exist. Experts believe that if a trade deal is not sought and frozen soon, Mr Trump is likely to escalate the trade war by raising existing tariffs. The economic and business world is awaiting the next round of trade talks in Washington, which is due in October this year.

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