“Trade war is not bad and easy to win.” That is the line posted on President Trump’s Twitter account today (2-3) – the day after he announced a tax increase on steel and aluminum from next week.
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
Mr Trump, who believes the tariff barriers will protect American jobs, said it would raise taxes on imported steel to 25 percent and 10 percent on imported aluminum. The move has been ignored by economists warned that rising raw material prices will make producers consider cutting back on labor rather than protection.
“When the United States is losing billions of dollars in trade relations with almost all countries, trade war is not bad and easy to win,” President Trump writes. “For example, we have a $ 100 billion deficit in trade with a country and they are crafty, need to rest immediately, we will win big.”
The new status of President Trump as adding fuel to the fire in the wake of many countries reacted sharply after his announcement the previous day, and further strengthened fears are spreading fast on Wall Street and Asian countries. – Europe: America has launched a trade war!
Australia’s trade minister said on Monday that moves from the United States could increase tension, prompting retaliation from other nations. Meanwhile, China, which was repeatedly threatened with currency manipulation by Mr Trump, claims the global economy will be severely damaged as many countries will study in the United States.
In Brussels, the European Commission (EC) announced a move to increase US steel and aluminum imports as another proof of so-called protectionism. The EC statement does not mention retaliatory measures, but instead will support other countries to bring the issue to the World Trade Organization (WTO) in the near future.
America unilaterally launched trade wars and won. Japan, the nation’s ally, was subdued in the 1980s, agreeing to reduce its exports voluntarily and move car factories to the United States to create jobs for Americans.
Any speculation about the opponent in the trade war (if any) of the United States are back to China. As an international commentator, the fact that no gunfire between the two giants has started and will become fierce as Washington is no longer involved in the Korean problem.
However, according to another scholar, America’s enemies in trade wars will be all the countries where Mr. Trump, who holds the trade fair banner, is claiming to be taking advantage of America’s prosperity.