Trump’s trade war is suffering mission creep via YahooFinance
If you’ve been following Trump’s remarks on the matter, you might think it’s to hurt China’s economy. But that’s not it.
The purpose of Trump’s trade war is to make the U.S. economy stronger. Every facet of the trade war—protective tariffs that make imports more expensive, punitive measures against Chinese firms such as Huaweii, bailouts for U.S farmers—is counterproductive unless it improves growth, employment and living standards here in the United States.
Trump obviously wants to inflict pain on China as leverage to win concessions favorable to the United States. But it now seems possible China won’t play along. Chinese President Xi Jinping, for instance, has begun talking publicly of prolonged conflict with the United States on trade, as is preparing his country for struggle. If that happens, then what?
Trump has taunted China for losing companies in this manner, as if it’s a win for him. But it’s not a win for the United States. At best, companies moving their supply chains around to avoid Trump tariffs are minimizing losses. They’re not creating any new American jobs, or adding to profits, or cutting prices for U.S. consumers.
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