This summer, headed to a community near you, Trade Wars: The Protectionist Menace! No, it’s not the latest sequel in a tired sci-fi film franchise, but rather the trade policy of the federal government. It seems as though President Trump wasn’t bluffing after all, as the world embraces for a trade war with the U.S. In addition to China offering counter tariffs to Trump’s tariffs on steel and aluminum, Canada, Mexico, and the E.U. are getting in on a game where Texas consumers will be among the losers.
Since before the 2016 election, Trump has made it known that he’s terribly upset about the trade deficit the U.S. has with many countries. It’s a pity he couldn’t be as concerned with the budget deficit, but I digress. What that means is that some countries import less goods than they export to the U.S., likely with duties that are put on U.S. goods entering some of these countries. Sure, it would be nice if there was better parity for trade, but solving that is the tricky part. If you go with the bluff scenario, threatening tariffs may be useful in bringing concerned parties to the bargaining table. However, if that …
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(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)