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Wed Jul 11, 2018, 08:07 PM

Tariffs Are Self-Imposed Sanctions - Best Explanation of Trump's Disaster-in-the-Making

Most concise explanation of the unfolding disaster that is Trump's Trade War

The article ends with

.....time. Even Jefferson ultimately backed off of his embargo when it resulted in a lot of deprivation for American consumers, a loss of lucrative foreign trade routes for American merchants, and not much trouble at all for his European bugaboos.

But when it comes to self-imposed trade restrictions, that backlash is a feature, not a bug: It's Beijing's fault, the logic goes, that the U.S. has been forced to heavily tax imports. If only the Chinese would play fair, this wouldn't be necessary. Yet that thinking is just as backward as blaming America for the failings of Venezuelan socialism or Iranian theocracy.

Next year, when your washing machine starts making a weird kathump kathump sound on the spin cycle and you find yourself balking at the cost of a replacement, don't blame China. Blame Trump.


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