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The Economic Consequences of Trump’s Trade War

2 27 8
12.07.2018

BERKELEY – US President Donald Trump’s phony, blowhard’s trade war just got real.

Jun 29, 2018 Joseph E. Stiglitz says the US Supreme Court no longer provides a check on legislative, executive, and corporate abuses of power.

Jul 3, 2018 Jeffrey D. Sachs & Bandy X. Lee believe that the US president’s paranoia and sadism are intensifying – portending severe damage to the world.

Jul 2, 2018 Kenneth Rogoff worries that the failure of US policymakers to rein in the top five firms is impeding innovation.

The steel and aluminum tariffs that the Trump administration imposed at the beginning of June were important mainly for their symbolic value, not for their real economic impact. While the tariffs signified that the United States was no longer playing by the rules of the world trading system, they targeted just $45 billion of imports, less than 0.25% of GDP in an $18.5 trillion US economy.

On July 6, however, an additional 25% tariff on $34 billion of Chinese exports went into effect, and China retaliated against an equivalent volume of US exports. An angry Trump has ordered the US trade representative to draw up a list of additional Chinese goods, worth more than $400 billion, that could be taxed, and China again vowed to retaliate. Trump has........

© Project Syndicate