Monday, March 5, 2018

Manon McCollum - "The trade war hurts them, it does'nt hurt us"

https://www.cnbc.com/2018/03/06/trump-the-trade-war-hurts-them-it-doesnt-hurt-us.html

In the last week, Donald Trump has issued high tariffs on aluminum and steel, forcing Europe to, in turn, raise tariffs on products like cars and motorcycles.

The President has apparently taken this action to reinforce his "America First" policy, and because it would lower the American deficit. Most analysts and economists, including those from his own party, see the move as nonsensical but harmless. There has been a drop in the dow, but everything has pretty much leveled out.

This policy, of high tariffs and "trade wars" is incredibly similar to that of President Harding before the Great Depression. In that case, these tariffs did not "only hurt them", but, in fact, brought international trade to a halt.

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