We could be number one.

In the US, "Jobs growth slowed sharply over the past three months and the unemployment rate rose in July," making it "harder for unemployed Americans to get a job and wage gains have largely stalled. That poses further risks to a slowdown in consumer and business spending that's already underway." ET. "The US added only 73,000 jobs, far short of projections. Added to the concern, job gains from May and June were slashed by a combined 258,000." The "Dow Jones fell 1.2%, S&P 500 dropped 1.6% and the Nasdaq plunged 2.2%." "The VIX index, known as Wall Street's 'fear gauge' spiked. Meanwhile, Treasury yields collapsed, with the 2-year yield dropping at its fastest pace since 2001 - a clear sign of recession fears." ET. "Even before the latest tariffs kick in." "Customs duties, along with some excise taxes, generated $152 billion through July, roughly double the $78 billion netted over the last fiscal year." "Over time, analysts expect that the tariffs, if left in place, could be worth more than $2 trillion in additional revenue over the next decade. Economists overwhelmingly hope that doesn't happen," "But some acknowledge that such a substantial stream of revenue could end up being hard to quit." DH. "Trump's tariffs strike at the heart of China's manufacturing juggernaut." "China's trade surplus with the world rose to a record $1 tn in 2024, on the back of strong exports ($3.5 tn), which surpassed its import bill ($2.5 tn)." Tariffs will hurt the Chinese economy. "Chinese people have not been spending enough to recharge the economy - and Beijing has just announced a slew of stimulus measures to boost consumption." "That is a tall task in an economy where the property market is slumping and disillusioned youth are struggling to find high-paying jobs." BBC. "Trump eliminated the so-called 'de minimis exemption,' which has admitted duty-free shipment of goods worth $800 or less into the United States." This order mainly affects Chinese companies Temu and Shein. CNN. "China's coastal export sector has been hit twice. It is already paying tariffs of 30% or more on shipments to the US - extraordinarily high by historical measures - on top of the previous tariffs. And exporters to the US no longer enjoy duty-free treatment for packages worth $800 or less." ET. Things must be bad in China because, "Business trips abroad for 'ordinary research, exchange and study' have been banned." And "Some kindergarten teachers, doctors and even government contractors and employees of state-owned enterprises have been ordered to hand in their passports." BS. That is a relief for other nations because all Chinese are forced to spy on countries they visit. "China is seeing a fierce e-commerce war." "It is led by Quick Commerce players." "As a result, China's e-commerce giants, including Alibaba, JD.com, and Meituan, are locked in an unprecedented 'instant retail' price war," which "has prompted authorities to express concern that the aggressive price-cutting could exacerbate deflationary pressures in an already fragile economy." TOI. Recession in the US and deflation in China. They are the two largest economies. India is projected to become the third largest economy by 2030. pib.gov.in. At this rate, we may end up number one. All because of Trump. India's best friend.