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Washington Post (June 8)

2018/ 06/ 10 by jd in Global News

“Trump is waging a trade war in the dumbest way possible.” In the best of times, “trade wars are neither good nor easy to win…. Every side loses, experiencing lost jobs, crippled businesses and higher prices for consumers.” Trumps tariffs are now estimated to result in 16 lost U.S. jobs for every job gained in the aluminum/steel industry: a painful, self-inflicted wound. Moreover, the counterpunches of our trading partners “are likely to draw more blood.” With the “already announced $40 billion worth of retaliatory tariffs on U.S.-made products,” Canada, the EU, Mexico, Russia, India, Japan and Turkey have “fine-tuned the art of minimizing their own pain — and maximizing ours.”

 

Washington Post (May 30)

2018/ 06/ 01 by jd in Global News

“Sudden policy shifts are amplifying an air of unpredictability that the president has said gives him an edge at the bargaining table, even as U.S. trading partners complain that it erodes American credibility. Adding to the confusion are divisions among Trump’s trade advisers and complaints from members of Congress, who fear that the president may be stumbling into a costly multi-front trade war.”

 

Bloomberg (November 2)

2016/ 11/ 04 by jd in Global News

“The last time the Philippine peso neared 50 to the dollar, the global financial system was melting down and the central bank raised interest rates to defend it. This time, it has been driven by the president cursing his trading partners.”

 

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