Paul Ryan says the economy is booming, but warns that new rates "are not the solution"

The President of the House, Paul Ryan, touted the economy under Republican Congress – but also denounced the new tariffs imposed by the Trump administration.

"After years of stagnation, our economy is finally rising," Ryan told the Economic Club of Washington, DC on Thursday.

Ryan pointed out that tax reform was the main driver of the economy.

"Nearly any economic measure, the American people are better off now," he said.

But Ryan warned against tariffs imposed by President Trump, such as the threat of imposing up to $ 550 billion on Chinese products.

"I have clearly expressed my point of view: the new rates are not the solution," Ryan said. "We must continue to seek new agreements while reinforcing existing ones".

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Ryan said Friday that "putting the right policy in place" by engaging the administration is "the most effective course of action".

Beyond tariffs, Rep. Beyer Beyer, D-Va., Said the Republicans had ruined the economy for working-class Americans.

"The Trump Administration and the GOP Congress have a major legislative achievement: eradicating health insurance and social security to lower taxes for CEOs and the wealthy," Rep. Don Beyer, D-Va., Member of the Joint Economic Committee, told ABC News in a written statement: "Because of their policies, wages are stagnating and health care costs are rising.

"Now, under President Trump's trade war, families working hard across America are suffering the consequences," he added. "The only people that Trump and the Republican majority have improved are those who were already better off."

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In his speech, titled #BetterOffNow, Ryan acknowledged that the economy does not work for all Americans. With respect to the development of the workforce, he pointed out that the US education system "is still not adequately equipped to help people adapt to this growing economy." evolution ", which needs skilled workers.

"We must cool the school again two years," he said.

Ryan also cited so-called social impact bonds – a public-private partnership with the goal of creating social programs for underserved areas – as a way of reconnecting "communities with distress to the biggest growing economy. "