It's intriguing to see the on-going trade war between the States and others including China. Who will ultimately win it?
The problem of the US trade deficits with its trade partners arises from US dollars lacking of domestic production supports - i.e. that USA has to buy products from its trade partners to meet its market. What if the US dollars are denied by the others? That must trigger economic collapse of US. President Trump has been aware of this problem for long time. He wants to Make America Great Again (MAGA) as he promised to American voters by taking a series of actions including to bring manufacturing sectors back home since he took the office two years ago, that will have created jobs for Americans. Actually, the former President Obama did the same thing of bringing goods producers home, but unfortunately he failed.
President Trump does not like others to take advantage of US by exporting cheap goods to US, and thus he has no choice but has to initiate a trade war by imposing tariffs on the imported goods. The tax may help to reduce the government debt, but the common American consumers have to pay more to buy these goods. The debt problem arises from the lack of revenue, over spending and disinvestment on manufacturing sectors. How to tackle this problem is a big challenge to all levels of governments including the Feds.
Will President Trump succeed in these actions including MAGA? The recent data indicate that he is approaching his objectives. Let's see what's going to happen in next two years before next election in 2020.
The problem of the US trade deficits with its trade partners arises from US dollars lacking of domestic production supports - i.e. that USA has to buy products from its trade partners to meet its market. What if the US dollars are denied by the others? That must trigger economic collapse of US. President Trump has been aware of this problem for long time. He wants to Make America Great Again (MAGA) as he promised to American voters by taking a series of actions including to bring manufacturing sectors back home since he took the office two years ago, that will have created jobs for Americans. Actually, the former President Obama did the same thing of bringing goods producers home, but unfortunately he failed.
President Trump does not like others to take advantage of US by exporting cheap goods to US, and thus he has no choice but has to initiate a trade war by imposing tariffs on the imported goods. The tax may help to reduce the government debt, but the common American consumers have to pay more to buy these goods. The debt problem arises from the lack of revenue, over spending and disinvestment on manufacturing sectors. How to tackle this problem is a big challenge to all levels of governments including the Feds.
Will President Trump succeed in these actions including MAGA? The recent data indicate that he is approaching his objectives. Let's see what's going to happen in next two years before next election in 2020.
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