The Trump administration's aggressive trade policy is not focused only on China.
Most presidents have used the power to focus on signing trade agreements that promoted trade with other countries, through mutual tariff reductions and other forms of liberalization.
His negotiations with other countries have mostly focused on reopening old trade deals in order to make trade less free; and he has invoked a statute, rarely used in recent years, that gives him the power to impose tariffs on the basis of "National security" considerations, even in industries where such concerns have little basis.
In this way, with regard to domestic trade practices, Trump has pushed the United States in a far more protectionist direction than anything seen since the 1930 Smoot-Hawley tariffs.
The domestic trade policy disruption also has an impact on international affairs, as our trading partners are being hurt too.
When Trump sees that the United States has a trade deficit with a country, he automatically thinks that the United States is "Losing." But that is not how trade works.
The trade balance is not a scorecard, and having a trade deficit with a country does not mean you are losing to them.
https://www.cato.org/blog/trumps-trade-policy-so-far-too-many-trade-wars-very-little-trade-liberalization
Most presidents have used the power to focus on signing trade agreements that promoted trade with other countries, through mutual tariff reductions and other forms of liberalization.
His negotiations with other countries have mostly focused on reopening old trade deals in order to make trade less free; and he has invoked a statute, rarely used in recent years, that gives him the power to impose tariffs on the basis of "National security" considerations, even in industries where such concerns have little basis.
In this way, with regard to domestic trade practices, Trump has pushed the United States in a far more protectionist direction than anything seen since the 1930 Smoot-Hawley tariffs.
The domestic trade policy disruption also has an impact on international affairs, as our trading partners are being hurt too.
When Trump sees that the United States has a trade deficit with a country, he automatically thinks that the United States is "Losing." But that is not how trade works.
The trade balance is not a scorecard, and having a trade deficit with a country does not mean you are losing to them.
https://www.cato.org/blog/trumps-trade-policy-so-far-too-many-trade-wars-very-little-trade-liberalization
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