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Media Report
July 04 , 2019
  • The New York Times columnist Paul Krugman writes:  For the reality is that Trump isn't winning his trade wars. True, his tariffs have hurt China and other foreign economies. But they've hurt America too; economists at the New York Fed estimate that the average household will end up paying more than $1,000 a year in higher prices. And there's no hint that the tariffs are achieving Trump's presumed goal, which is to pressure other countries into making significant policy changes...But why are Trump's trade wars failing?..First, belief that we can easily win trade wars reflects the same kind of solipsism that has so disastrously warped our Iran policy..Second, Trump's "tariff men" are living in the past, out of touch with the realities of the modern economy...Finally, Trump's trade war is unpopular — in fact, it polls remarkably poorly — and so is he.
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