1/4
"When the tariffs were put in place, the focus was on economics and trade policy. Now it's not about that anymore. It's all about national security."
The tariffs on China were never going to have a beneficial impact on the US economy.
npr.org
"When the tariffs were put in place, the focus was on economics and trade policy. Now it's not about that anymore. It's all about national security."
The tariffs on China were never going to have a beneficial impact on the US economy.
npr.org
2/4
As long as the US continues to absorb the savings imbalances of the rest of the world, the only way for the US to reduce its trade deficit would be to implement policies that changed the savings imbalances in China and in other countries.
As long as the US continues to absorb the savings imbalances of the rest of the world, the only way for the US to reduce its trade deficit would be to implement policies that changed the savings imbalances in China and in other countries.
3/4
Not only were tariffs on Chinese goods quite useless in that respect, but in fact Chinese imbalances have gotten much worse since the tariffs were imposed. Not coincidentally, the US trade deficit is much higher now than it was under the Trump administration.
Not only were tariffs on Chinese goods quite useless in that respect, but in fact Chinese imbalances have gotten much worse since the tariffs were imposed. Not coincidentally, the US trade deficit is much higher now than it was under the Trump administration.
4/4
If Washington wants to address economic problems associated with global trade, it cannot address them on a bilateral basis and it cannot keep ignoring the role of the capital account. We need smarter policies that are no longer based on an obsolete understanding of trade.
If Washington wants to address economic problems associated with global trade, it cannot address them on a bilateral basis and it cannot keep ignoring the role of the capital account. We need smarter policies that are no longer based on an obsolete understanding of trade.
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