Look, Trump finally got his war.
Courtesy of Vice:
Donald Trump’s trade war finally arrived Friday after China slapped retaliatory tariffs on U.S. goods in direct response to U.S. taxes on Chinese goods, which went into effect at midnight.
Labeling the president and his administration “a gang of hoodlums,” Beijing warned Washington it had kickstarted “the largest trade war in economic history.”
The U.S. tariffs impose a 25 percent duty on $34 billion worth of Chinese goods, with Beijing imposing equivalent levies on U.S. goods.
American products targeted by China include soybeans, cigars, electric cars, and whiskey.
“China will not fire the first shot, but it is inevitably forced to strike back to defend the core interest of the nation and its people,” a statement from the Ministry of Commerce in Beijing said. “We will report to the World Trade Organisation on a timely basis.”
Chinese state media took a more bellicose tone, with China Daily warning: “The Trump administration is behaving like a gang of hoodlums with its shakedown of other countries, particularly China,” adding the tariffs “have set off the largest trade war in economic history, demonstrating a typical hegemonic attitude against the rules of world trade.”
Look I know that our trade with China is very lopsided, and could see myself applauding a leader taking a stand and demanding that we renegotiate our trade deals with a number of countries.
However Trump is NOT that leader, and all he could possibly accomplish is to damage our relationships with these countries to completely that it will take an actual economic genius to set things right again.
In the meantime, the people who are going to be the most impacted by Trump’s cowboy attitude are the very people who supported his campaign in the first place.
Unfortunately for the rest of us, the damage will not be contained to just those who actually believed that Trump had any idea about how to run this country.