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Trump doesn’t seem to know why he launched a giant trade war (www.vox.com)

submitted 22 hours ago by SLVRDRGN@lemmy.world to c/world@lemmy.world

123 comments fedilink hide all child comments

Donald Trump just imposed a 25 percent tariff on virtually all goods produced by America’s two largest trading partners — Canada and Mexico. He simultaneously established a 20 percent across-the-board tariff on Chinese goods.

As a result, America’s average tariff level is now higher than at any time since the 1940s.

Meanwhile, China and Canada immediately retaliated against Trump’s duties, with the former imposing a 15 percent tariff on American agricultural products and the latter putting a 25 percent tariff on $30 billion of US goods. Mexico has vowed to mount retaliatory tariffs of its own.

This trade war could have far-reaching consequences. Trump’s tariffs have already triggered a stock market sell-off and cooling of manufacturing activity. And economists have estimated that the trade policy will cost the typical US household more than $1,200 a year, as the prices of myriad goods rise.

All this raises the question: Why has the US president chosen to upend trade relations on the North American continent? The stakes of this question are high, since it could determine how long Trump’s massive tariffs remain in effect. Unfortunately, the president himself does not seem to know the answer.

In recent weeks, Trump has provided five different — and contradictory — justifications for his tariffs on Mexico and Canada...

...more in the article.

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[–] ameancow@lemmy.world 4 points 3 hours ago* (last edited 3 hours ago)

I don't doubt the reputation of the writer or his general knowledge of economics...

But this is coping. The Trump administration is trying to wave their hands around and create a giant fuss for people like us and this writer to speculate on and create debates and panels to think about... while he and his people simply walk out of the white house with the treasury and all the inside investment opportunities they will ever want.

He's just making chaos, plain and simple. These ideas about his master plan to disrupt the world's reliance on the US dollar? Distraction and coping.

I agree this administration is more clever than we give them credit for, but any house thief can step up their game and pull of a heist when they set their mind to it, it's not some kind of magic skill. If anything, I think it's harmful to assume Trump is at all smart or has a plan because this makes a lot more assumptions than the most simple answer which is almost always the correct determination. He is making a mess because his ONLY plan is to make you think he has a plan. He does this with literally everything he says or announces, why would anyone think this is different? This is EXACTLY the fucking delusion I was railing against in another comment. There is no plan. Nobody is coming. Stop thinking others are smarter than you or have a backup plan.

My evidence? We've done all this fucking before, this is part 2 of a failure of a presidency. He didn't change the world before, he won't here. (Other than diminishing the US role in geopolitics so Russia can take center stage, all he really wants right now)