The effect of Trump's policies is to greatly reduce trade with China, both exports and imports.
The US economy depends relatively little on exports, now even less. We will continue to have top trade partners in Canada, Mexico, South Korea, the UK and Japan. And yes, we will find somewhere to purchase inexpensive clothing for sale at Walmart.
Yes, prices at Walmart will go up a bit. Yes, some farmers will need to change their business models.
Obviously, there are lots of reasons to want to punish China. Perhaps, Trump has found the best end game: lots, lots less trade between the US and China.
QUESTION
Are we wrong in trying to become less dependent on trade with China?
The US economy depends relatively little on exports, now even less. We will continue to have top trade partners in Canada, Mexico, South Korea, the UK and Japan. And yes, we will find somewhere to purchase inexpensive clothing for sale at Walmart.
Yes, prices at Walmart will go up a bit. Yes, some farmers will need to change their business models.
Obviously, there are lots of reasons to want to punish China. Perhaps, Trump has found the best end game: lots, lots less trade between the US and China.
QUESTION
Are we wrong in trying to become less dependent on trade with China?