Everything is upside down in American politics today.
Historically Democratic Party and liberals expressed opposition to certain trade agreements. In 1993, more Republicans than Democrats voted for NAFTA. In 2005, only 15 Democrats supported CAFTA.
Senator Sanders, who has previously opposed all trade agreements, now appears to support free trade like a globalist.
One reason for high inflation during President Biden's four years is that he maintained most of the tariffs implemented by President Trump. If President Biden had removed these tariffs, inflation might not have been as severe. Although President Biden is often seen as having moderate views, his stance on free trade was notably liberal.
My question to Democrats: Are you opposing these tariffs because you now support free-market capitalism, which conservatives have promoted for decades, or simply to oppose President Trump?
Sanders and the left have supported protectionist tariffs for many decades. They lose ALL credibility when they oppose aluminum, steel, auto and other focused tariffs.
And yes, it is the Democrats who have opposed NAFTA and CAFTA (and NAFTA 2 under Trump 1).
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Trump SHOULD do a NAFTA 3 and take credit for the improvements over NAFTA 1 and NAFTA 2. That was supposed to happen in 2026. My hope is that it still happens.
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Trump believes in using tariffs to raise money, to get access to foreign markets (e.g. for cars and agriculture), and generally to make better deals for the US with many, many new trade arrangements.
It is not at all clear that the result will be bad for the US (or for Europe I might add). European consumers will like to get more US goods at lower prices.
Japan will increasingly bring its expertise to US auto factories and now to steel factories while giving US companies more access to their market. Don't worry about the increased cost of Japanese goods. That has been in control of the Japanese government for decades. They regulate the prices through subsides and taxation and then sell electronics to SF consumers cheaper then to Tokyo customers.
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THE BOTTOM LINE
is that rules-based regulated free market capitalism is by far the best system the world has even seen. And, yes, the system since WWII has favored the US and allow us to be the giant economic power that we are. Trump's policies may or may not give us a better future system. However, there may be much more competition in many countries than there has been for decades.
Of course, the biggest faults with what is happening is that Trump has been so awful in his methods that there will be lasting negative effects of countries looking to other trade alliances to protect themselves and their citizens. The most obvious effect will be from policies regard Canada. I don't believe that anything will restore the level of US sales bought in stores or restore the level of Canadian travel to the US. This type of unintended consequence is comparable to the ICE raids greatly reducing tax income because many immigrants will be afraid to file, and no, the reduced number of IRS agents will not help turn the tide. The action of such reduction will have its own negative effect on the amount of taxes collected,
