Trump’s Economy, Inequality Paradox, China Question: Eco Day

(Bloomberg) -- Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• President Donald Trump heads into the November election on track to be the first U.S. leader since World War II to oversee a net loss of jobs during a four-year term

• Democratic presidential candidate Joe Biden is preparing to face tough questions in today’s debate on how he would approach China if he wins the White House in November

  • The world-renowned medical center in Cleveland, which hosts the first U.S presidential debate, embodies the American inequality paradox
  • Here’s Bloomberg Economics’ latest U.S. swing state dashboard
• House Democrats released a scaled back $2.2 trillion proposal to extend support to the U.S. economy in face of the continuing damage from the coronavirus pandemic
• How Trump’s Federal Reserve woes worsened after economist Marc Sumerlin rebuffed a role at the U.S. central bank
• China reduced the pace of its purchases of U.S. goods in August, making slow progress in meeting the goals of its trade deal with the world’s biggest economy
• The Argentine government is weighing a temporary cut on some export taxes to boost dollar inflows as its foreign reserves fall to a three-year low, according to people with knowledge of the matter
• President Andres Manuel Lopez Obrador is planning to transform Mexico on the cheap
• The U.K. could be facing a long-term increase in the size of the state as well as a substantial tax increase as a result of the coronavirus pandemic, according to the Institute for Fiscal Studies
• Economic confidence in the euro area improved for a fifth month, albeit at a slower pace as resurgent virus infections cast uncertainty over the outlook

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