Trump running into trade is good, don't mess with it

March 5, 2019

 

 

Looks like Trump is running up against the trade is good scenario that he probably didn't learn or understand when he took his economic courses at the Wharton School. The New York Times reports "China, which has retaliated against President Trump’s tariffs with its own punishing taxes on American goods, is pushing for the elimination of all of the Trump tariffs, a person with knowledge of the negotiations said. and further  the Times reports "The president has continued to accuse China of engaging in nefarious practices to get a leg up in global trade and has imposed tariffs on $250 billion worth of Chinese goods to pressure Beijing to stop. The trade war, which has raged for months, has begun to hurt American companies that depend on China for sales and production, and many large multinational firms have said the trade war will crimp 2019 profits."

 

And Last week, "Mr. Trump said he would delay imposing higher tariffs on $200 billion worth of Chinese goods, citing substantial progress in trade talks. On Saturday, Mr. Trump said he was asking China to end its retaliatory tariffs on meat and other products, the Times reports.

 

While Trump may still not understand how all countries engaged in international trade benefit from the trade, circumstances are forcing him to back off from his tariff wars. See my posts on how international trade benefits all countries that engage in trade. 

 

Source: https://www.nytimes.com/2019/03/03/business/us-china-trade-deal-trump.html?action=click&module=Top%20Stories&pgtype=Homepage

 

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