By supporting Trump’s disastrous trade policies, his apologists are fomenting the destabilization of a world order of prosperity and peaceful coexistence created by free trade. These new “conservatives” are not conservatives, but Big Government advocates who seek the reins of power.
Current events have revealed that Ayn Rand’s novel Atlas Shrugged is not just fiction, but almost a prophesy. Elizabeth Warren’s Accountable Capitalism Act and the cronyism of Trump’s tariff policies are straight out of Rand’s novel. It won’t end well.
Trump’s trade war is not about about being patriotic or Making America Great Again or protecting American businesses. It is about politics and bad economics. No one wins a trade war; everyone loses.
if Donald J. Trump can believe free trade is bad for American workers despite his own White House’s announcement of record low unemployment and high trade deficits, then he can believe almost anything. And that is the problem and it’s dangerous.
President Donald Trump just opened the first salvo in a trade war by imposing tariffs (taxes) on steel (25%) and aluminum (10%). It won’t end well. (more…)
The other day President Donald Trump tweeted, “The United States has an $800 billion Dollar Yearly Trade Deficit because of our ‘very stupid’ trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more.”
If it is the case that we have been fools to engage in “one-sided” free trade with other countries, then Trump personally entered into a “very stupid” deal resulting in a huge personal trade deficit. (more…)