Monday, 15 July 2019

Trump trade policy counter-productive

Well, that worked well, didn't it? Part of President Trump's scheme to "make America great again" is applying trade sanctions to all and sundry, but especially China. The result has been not to reduce the deficit on trade with China, but to increase the trade gap. It has helped to dampen China's growth, though, with bad effects on the rest of the world. Does The Donald really want to go down in history as the US president who plunged the world into another Great Depression?

The UK will be the first nation to be dragged down, just as we were in the banking failures of 2007/8. The next prime minister will be closer to the current US administration than Mrs May. The only escape is via a general election, and soon.

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