If Trump’s tariffs start a trade war, it would be an economic disaster | Mark Weisbrot

The president-elect’s two main arguments for his tariff threat – to reduce migration and to combat drugs – are not credible

“To me, the most beautiful word in the dictionary is tariff, and it’s my favorite word,” said Donald Trump last month. Pundits, politicians and financial markets are trying to figure out why, since he announced a week ago that he would impose tariffs on the United States’s three biggest trading partners: 25% for Mexico and Canada, and 10% for China.

One theory is that tariffs can be a beautiful distraction. Trump, more than any previous US president, has fed on distractions for years, both to campaign and to govern. He can move seamlessly from one distraction to the next, like a magician preparing for the opportune moment to pull a coin from where it appears to have been hidden behind your ear.

Topics

Trudeau told Trump Americans would also suffer if tariffs are imposed, a Canadian minister says

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How the EU should deal with Trump’s tariff threat

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If Trump’s tariffs start a trade war, it would be an economic disaster | Mark Weisbrot

Topics

Related

Trudeau told Trump Americans would also suffer if tariffs are imposed, a Canadian minister says

FEMA officials worry Trump will divert disaster aid to the border

Trump nominates Peter Navarro as senior economic adviser

FirstFT: Critics see chance to close US accounting regulator

China Just Showed Washington How It Plans to Fight the Next Trade War

Mark Cuban’s War on Drug Prices: ‘How Much Fucking Money Do I Need?’

How the EU should deal with Trump’s tariff threat

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