Trump came into office promising all sorts of stuff but mostly that he was an expert at trade policies and he would return the US to its rightful place as the world leader in trade.
I have written about this experts consequences of his trade wars…..
Let’s be honest his policies have been disastrous to this country….only a handful of extremely rich people have benefited from these failed policies….
Some have asked just why has these policies failed other than a total impotent approach to trade…….
Before Donald Trump took office, he promised he was going to stick it to China on trade. When he assumed power, he indeed did so — threatening and then levying tariffs on hundreds of billions of dollars worth of Chinese imports. China responded in kind, before agreeing to a largely symbolic trade agreement in January only to have it disrupted by the coronavirus pandemic.
The problem the Trump administration was ostensibly trying to solve was America’s enormous trade deficit, which Trump has portrayed as the U.S. being ripped off by foreign countries. This was also the motivation behind the renegotiation of the North American Free Trade Agreement, and a threatened trade war on Europe that is also now on hold.
Yet all these actions did not shrink the trade deficit. On the contrary, the deficit widened for the first few years of Trump’s presidency, shrank back to about what it was before he took office in late 2019, and now has widened once again. What gives?
My thought is if we are to trade with other nations that maybe a more inclusive talks and a mutual beneficial agreements would help everybody.
Instead we are “going it alone”…..and the results are noticeable to all….jobs loss…..factors closing……lack of confidence in the US.
Time that we stop acting like the sole nation on this planet and start working with others for common goals.
I Read, I Write, You Know
“lego ergo scribo”