President Trump’s trade war, launched without a strategy to win it, is backfiring
President Donald Trump has told us that “trade wars are good, and easy to win.” He seems to have thought that just threatening to impose tariffs would bring other countries to their knees, since those countries need access to the vast U.S. market.
But Trump’s global trade war isn’t going as planned. The threat and then the imposition of tariffs on goods that the United States imports — from China, Canada, Mexico and the countries of the European Union — have not induced those countries to capitulate to U.S. demands. Instead, those countries have imposed retaliatory countertariffs on hundreds of goods that U.S. farmers and manufacturers sell abroad, from apples, soybeans and pork to whiskey, electric cars and car parts.
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This article was originally published by The Cleveland Plain Dealer on July 15, 2018.