Quote:
Originally Posted by elysiantraveller
No, because it didn't accomplish anything aside from piss off allies.
It was a short-sighted punitive policy with no clear objective. Its been treated as such by the EU.
But I'm not the one that says trade wars are "easy to win"... I would argue they aren't necessary.
I feel the global economy is a bit trickier than a tweet.
|
I don't know if trade wars are easy to win, but they are not all created equal. If you are running a several hundred billion dollar deficit with someone else, you have massive leverage over them because they stand to lose a LOT more than you if they don't renegotiate.
He's been trying to renegotiate trade deals pretty much since the first day he appointed Wilbur Ross. This is part of the overall trade strategy to reduce or eliminate the trade deficits. He's the first person in politics to have enough of brain to know it's a problem other than Ross Perot.
We will see if he makes progress. It will be tough.
The accumulated deficits while we've had pinheads in charge give foreigners leverage over us in that they can threaten to sell our bonds, cause rates to rise, and put us into recession. That's one of the reasons I say this whole free trade experiment was a nightmare for us. China, Japan, Saudi Arabia and others can pull the plug on our country if they don't like our policy on anything, but of course they can't do it with screwing themselves.
