CUNA economists discuss impact of increased Chinese tariffs on U.S. economy

WASHINGTON, DC (May 23, 2019) — In the May edition of the CUNA Economic Update, sponsored by CUNA Finance Council, CUNA Chief Economist Mike Schenk explores President Trump’s decision to increase Chinese tariffs from 10% to 25% and its impact on the U.S economy.

“Trade wars are not good and generally very hard to win,” says Schenk. “Ultimately, free trade is good for economic growth in the long run and it increases efficiency.”

The May video also features:

  • A U.S. labor market update – 263,00 jobs created in April and the unemployment rate reaches historic lows
  • Credit union loan growth will begin its typical seasonal acceleration
  • The long-term deficit problem and its impact
  • State-level bank attacks

The May 2019 CUNA Economic update is complimentarily available to all CUNA members. To watch the video and other past updates, visit

About CUNA

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit To find your nearest credit union, visit


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