The longer Donald Trump persists in his trade war, the greater the chances are of an outright slump developing. That is what the financial markets are telling us, also the implicit message from the Federal Reserve.
Elites make trade boring for a reason. Here's how to fight back. These agreements don't just set tariffs and other trade restrictions. They may end up governing the quality of your water. They're about the price of your medications....
Tariffs are not paid by foreign governments, such as Mexico and China, or by Mexican or Chinese companies exporting goods to the U.S. Instead, they are paid for by the American company importing the goods.
Donald Trump seems determined to double down and keep pressing forward on his trade war with China. He promises more and higher tariffs, not realizing that U.S. consumers are the ones paying these taxes - not China's government or corporations.
A trade war with China poses a serious threat to the US itself, which is bound to suffer severe losses due to trade diversion; and broader damage, as tit-for-tat tariffs reduce overall exports, undermine total global trade, and world economic growth.
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So is Trump the worker’s hero? Will increased tariffs return jobs to the US? The left has been weak on this issue. The left lacks a real program to address the real concerns of those impacted by trade deals.
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