>> US President Donald Trump presented world leaders in Davos, Switzerland with an image of a roaring US economy, urging them to invest in manufactured goods in America.>> So come to America where you can innovate, create, and build.>> But data from the US Commerce Department released Friday painted a slightly different picture.
The economy expanded at a rate of 2.3% in 2017. The White House had focused on a 3% target as proof that his policies were working.>> 3%.>> While overall growth in 2017 was higher than the year before, the data highlighted the challenges the Trump Administration faces in delivering on his economic promises.
>> I believe in America>> Despite Trump's credo of Buy American, Americans are still buying goods made elsewhere. Imports surged to the end of 2017, the fastest quarterly growth since 2010.>> Only by insisting on fair, and reciprocal trade can we create a system that works not just for the US, but for all nations.
>> Trump has attacked international trade agreements, and in recent days raised taxes on certain imported goods. The brightest spot for American business is consumer spending, which accounts for more than two thirds of US economic activity. Spending over the holidays grew at the quickest pace in three years.