Trade wars make perfect sense to Donald Trump. You punch another country in the face with a tariff. . If they punch back with a tariff of their own, you just punch them back harder, and keep on punching until you win.
This economic bullying is vintage Trump. And now, after imposing tariffs on U.S. allies and neighbors, he has started a trade war with our biggest economic competitor and trading partner, China.
The Trump administration has slapped a 25% tariff on a range of Chinese imports to the U.S., China retaliated by slapping a 25% tariff on a range of American exports, from pork to poultry, soybeans to soda. And it sounds like the war is just getting started..
The problem with this type of economic warfare is that a lot of people get hurt before it’s over. Many American products are now less attractive to Chinese companies and consumers. Many Chinese products are now more expensive for American companies and consumers. It’s already hitting people in their wallets.
According to Trump, trade wars are good and easy to win. The truth is that trade wars have ruined economies and brought down governments.
Get ready for trouble. In Xi Jimping, Trump is up against someone who can probably punch harder than he can