It is a fact that China does not play fair in international trade; an orderly reckoning was overdue.

It is also a fact that President Trump’s herky-jerky, escalating showdown with the United States’ largest trading partner, a skirmish that has metastasized into an all-out war, risks doing lasting damage to American businesses and consumers, as they are forced to pay rising prices on the road to promised victory.

While U.S. manufacturing has of course experienced shrinking pains as we’ve opened the gates to unfettered trade with Mexico, China and other nations, Americans have long benefited from low-cost products. We get something for that trade deficit in goods — which, ahem, hit a record $891 billion in 2018, under Trump’s policies. What isn’t growing under Trump: American exports.

And, now perhaps, stock prices.

Trump can promise ever more billions in tax dollars to hard-hit U.S. farmers, but he cannot and will not take the edge off American consumers who will see products get more expensive. Trade wars, Trump infamously said, are good and easy to win. They hardly ever have winners, and are especially bad when neither army’s commander-in-chief has an exit strategy.

— New York Daily News

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(4) comments

Sonny

Jeff Daniels at CNBC used that phrase tit-for-tat on April 7, 2018

JVW

The Sky is falling and this article will make you believe it. The Farmers will be fine. 30 Trillion and counting.


HavasuGuy

Farmers on welfare are losing business relationships that they have built with the Chinese and possibly will be affected for years after this tit for tat game is over. The big winners are Brasil, selling soybeans and creating more soybean farmers, and the Russian wheat farmers who are now supplying China and expanding their wheat farms. Trump, good for Russia, bad for small American farmers. I guess he's more concerned about getting Russian votes in the next election, not the farmer's votes...

HwyRovr

Uh, oh - FACTS! Be prepared for personal attacks.

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