As if the past few days haven't been bad enough, here's a final kiss-off to Trump: China won the

[TexasTowelie]

As if the past few days haven’t been bad enough, here’s a final kiss-off to Trump: China won the trade war.


The disastrous conclusion to Donald Trump’s failed presidency was only tarnished further yesterday with the news that The People’s Republic of China outdid the United States on the very front that the Trump administration based so much of its reputation: global trade.

China’s trade surplus last month was $78 billion, which took its overall surplus for 2020 to a record $535 billion, up 27% over the year before.

In the head-to-head match-up with the United States, Beijing clobbered us in raw numbers. As I and a jillion other economists have fruitlessly noted in recent years, trade surplus/deficit numbers are poor barometers of economic well being, but going by those numbers, so dear to Donald Trump, the outgoing prez and his gullible followers have reason to be chagrined. The U.S. trade deficit with China last year was $317 billion, a 7% increase over 2019 and the second highest on record.

This comes in the aftermath of Trump’s famously uninformed utterance on twitter (sorry, it’s no longer findable due to the suspension of the president’s account, but I’m pretty sure most of us remember it) that “trade wars are good and easy to win.” The tariffs he subsequently imposed on nearly $400 billion worth of Chinese exports to the United States accomplished squat in terms of re-balancing our trade accounts with China and only ended up costing American importers and consumers money because Americans had to pay the tariffs - a reality that Trump never seemed to get.

Read more: https://www.sdstandardnow.com/home/as-if-the-past-few-days-havent-been-bad-enough-heres-a-final-curtsy-to-the-trump-administration-china-won-the-trade-war
(South Dakota Standard)

[Takket]

1. Ask a MAGAt and they will say he brought China to its knees

And Biden will hand over the country to them.

They will also tell you we are finally “respected all over the world” again.

The reality?

We are a laughing stock no longer seen as a world leader.

[Ziggysmom]

2. It's so easy! Nobody knows more about this stuff!

[NoMoreRepugs]

5. His level of hubris may never be seen again.

[bonniebgood]

3. He Knew. It was all of Putin and his plot to destroy America. USA from within. nt

[panader0]

4. I just can't help believing that everything donnie did was to benefit Putin.

Go down the long list of BS that donnie has done and the main beneficiary has been Putin,
even at the 2016 repub convention when trump backers insisted that lifting the sanctions
on Russia that Obama had placed. And the conference at Helsinki? Kompromat will be exposed.

[keithbvadu2]

6. My gf is a Fox junkie. They have her totally convinced that China paid the billions in tariffs.