I recommend before you analyze Trump, you analyze Chairman Mao.
I suspect both Trump and Mao share a simplistic view of tariffs and trade.
As late as 1985 on a train from Beijing to Xian (where I made a connection on to Hanzhong), I saw small buildings beside one lane roads. They were tariff collection sites.
In order to keep jobs at home, Mao had trade tariffs between Chinese cities putting taxes on rice, cigarettes, beer, etc.
Because of tariffs, most Chinese cities had their own brands of cigarettes and beer.
If you look, you will see Trump shares Mao’s misconceptions of markets.
I recommend before you analyze Trump, you analyze Chairman Mao.
I suspect both Trump and Mao share a simplistic view of tariffs and trade.
As late as 1985 on a train from Beijing to Xian (where I made a connection on to Hanzhong), I saw small buildings beside one lane roads. They were tariff collection sites.
In order to keep jobs at home, Mao had trade tariffs between Chinese cities putting taxes on rice, cigarettes, beer, etc.
Because of tariffs, most Chinese cities had their own brands of cigarettes and beer.
If you look, you will see Trump shares Mao’s misconceptions of markets.