US president has imposed tariffs on steel and aluminum imports.
A day after deciding to impose tariffs on steel and aluminum imports, Trump doubled down today by saying that “trade wars are good, and easy to win.”
Trump tweeted: “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!”
Trump’s tweet came in response to near universal condemnation of Trump’s decision to impose tariffs. “We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk,” said European Commission President Jean-Claude Juncker after Trump’s announcement.
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Donald Trump: ‘Trade wars are good’ https://t.co/IZijWdc8yr via @POLITICOEurope pic.twitter.com/R2O3bwBwb1
— POLITICO (@politico) March 2, 2018
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
This is like saying that if you spend more money with Amazon than they spend with you, you become richer by shopping more expensively elsewhere. It’s idiotic. https://t.co/L3s8HuY5ki
— Ben Shapiro (@benshapiro) March 2, 2018
This from a supposed graduate of The Wharton School. He must have slept through any courses in economics.
Just who is going to win in this trade war, Donnie? Certainly not the consumer. And all those union people who think tariffs will somehow bring back manufacturing jobs are in for an unpleasant surprise.
I didn’t think our country would survive eight years of Obama. Now I don’t think it will survive four years of this insane person.
He must have slept through all the history classes too!
Remember Smoot–Hawley?
Although economists disagree by how much, the consensus view among economists and economic historians is that “The passage of the Smoot–Hawley Tariff exacerbated the Great Depression.”
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