U.S. economy slips from first to third place in global competitiveness ranking amid Trump's tariffs

The United States lost its spot as the world's most competitive economy amid an ongoing trade war with China, according to an annual ranking from the IMD World Competitiveness Center.

He voiced agreement with President Trump's claims that China is hurting the ability of U.S. companies to compete globally. The ongoing trade war between the U.S. and China has inflicted uncertainty upon, and caused rapid fluctuations among, global financial markets. President Donald Trump's regular tweeting has further contributed to market shifts.

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