President Deals is stumbling facefirst into an all-out trade war with China. Trump, playing into his victimhood rhetoric that claims America is being taken advantage of all over the world, recently announced tariffs on Chinese imports. Not surprisingly, China responded by slapping billions in tariffs of their own on U.S. imports.
The United States is headed down a disastrous trade track, all because the president is too lazy and too ignorant to contend with the difficult nuances of good policy. He even cluelessly claimed that trade wars are “easy” to “win.”
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
Tariffs are simple enough in their basic concept that Trump can wrap his head around them on some level, so it’s tariffs that he’s chosen to implement. As any economist or historian worth their salt will tell you, tariffs have historically been hugely detrimental to the American economy. Perhaps most infamously, the Smoot-Hawley Tariffs of 1930 were a major contributing factor in the Great Depression. Those tariffs were also spearheaded by Republicans.
It’s simple. Tariffs lead to trade wars. Trade wars make everything more expensive, which in turn tanks world economies. Trump is steering us directly towards financial ruin.
In an attempt to get out ahead of the trade war scandal, Larry Kudlow, the Director of the National Economic Council under Trump, appeared on Fox News and gave an almost impressively nonsensical defense of the president’s incoherent economic policies.
Kudlow started his speel by saying he “gets the stock market’s anxiety” before telling people to not “overreact” without offering any reason why people shouldn’t overreact.
He said that he’s a “growth guy,” a meaningless statement given that no rational person, liberal or conservative, would say they’re against economic growth.
Kudlow then proceeded launch into a rambling string of unrelated statements. He said he believes in supply-side economics, which has nothing to do with tariffs. Then he rambled for a bit about opening up some “pot of gold.”
Kudlow then made the argument that better economic growth and better trade comes from “lowering barriers.” He said we shouldn’t “raise barriers,” which is exactly what tariffs do. In other words, Kudlow ended up arguing against his own policies.
.@larry_kudlow on market reaction to China's tariff announcement: "Don't overreact, we'll see how this works out… At the end of this whole process, the end of the rainbow, there's a pot of gold." pic.twitter.com/ZPeYpYq2Kw
— FOX Business (@FoxBusiness) April 4, 2018