Targeted retaliation for dummies
by digby
 |
| They weren’t born yesterday |
Trump went on and on today about using the word “reciprocity” by which he means that if one country is selling America cars, that country has to take an equal number of American cars. It’s a typically childlike approach, in keeping with his puerile understanding of how the world works. The word he should have been emphasizing was “retaliation” which is what’s going to happen.
The DOW closed down 724 points today after Trump announced that he was slapping tariffs on China. He and his apologists on television (even Club for Growth’s hypocrite of the year, Stephen Moore) all say they believe China will have to capitulate to Trump’s macho provocation. Yeah, I’m going to guess it may not go the way they think:
China is preparing to hit back at trade offensives from Washington with tariffs aimed at President Donald Trump’s support base, including levies targeting U.S. agricultural exports from Farm Belt states, according to people familiar with the matter.
Europe is also targeting GOP states like Wisconsin cheese and Kentucky bourbon. They weren’t born yesterday either.
But sure, a crude trade war is just what the doctor ordered. All those Trump voters will be millionaire steel workers and everyone will be happy.
*this is not to say that there are no problems with America’s trade policy. But Trump is a fool and an asshole and will make things worse. Let’s not kid ourselves.
.