Saturday, July 28, 2018
Trade Wars
I still remember the monotonous monologues of US presidential candidate Trump in the summer of 2016. His mindless derision of China, for some unknown reason, played particularly well with his White Nationalist base of moronic supporters.
Now, halfway through his first term, Trump's trade-wars with Canada, Mexico, Europe and China threaten to plunge the United States further into recession. Combined with the tax cuts to the wealthy, the American economy could resemble that of Moldova.
As noted in this article, tariffs and sanctions are going to hurt everyone. As U.S. Senator Corker (Republican from Tennessee) said, "You have a terrible policy that sends farmers to the poorhouse, and then you put them on welfare...It's hard to believe that there isn't an outright revolt right now in Congress."
As the world's second largest economy, attacking China isn't like bullying Honduras.
Now, halfway through his first term, Trump's trade-wars with Canada, Mexico, Europe and China threaten to plunge the United States further into recession. Combined with the tax cuts to the wealthy, the American economy could resemble that of Moldova.
As noted in this article, tariffs and sanctions are going to hurt everyone. As U.S. Senator Corker (Republican from Tennessee) said, "You have a terrible policy that sends farmers to the poorhouse, and then you put them on welfare...It's hard to believe that there isn't an outright revolt right now in Congress."
As the world's second largest economy, attacking China isn't like bullying Honduras.
