A trade war may also finally prompt China to do the smart thing and dump its trillion-plus holdings of U.S.
Elimination of the trade deficit will be a hollow victory if it results in a significant reduction in living standards.
President Trump should focus on getting government out of business by deregulating—and privatizing the United States Postal Service.
A tariff is essentially a tax that will be paid by domestic consumers.
The illogical trade policies of President Trump not only threaten to make Americans poorer, but could start a global trade war that could lead to decreasing standards of living for hundreds of millions of people around the globe.
Governments have sold their bonds to fund vote-buying welfare state spending, or expanding bureaucracies with loyal supporters of power-hungry politicians, or on delusional dreams of military power, or colossal public works projects hailing the greatness of the dictatorial or democratically elected leader.
Economic warfare threatens a downward spiral with reduced trade among nations, and declining standards of living from following this wealth-destroying path.
Preferring American-made products to those made in China or Mexico just because they were made in America, does not enhance American prosperity.
Truly free trade can only take place in free markets, not in the prevailing mixed economies where governments pick favored trading partners