Doug Irwin: Trump’s Trade Policy Is An Exercise In Futility: "Yet for all the Sturm und Drang of his trade policy, the president is likely to end up being terribly disappointed by the results of his efforts...

...He wants to reduce the trade deficit, create new manufacturing jobs, enhance national economic security, and force China to change its policies. He is unlikely to achieve any of these objectives. In the end, his policies will likely be an exercise in frustration. Unfortunately, there could be a lot of collateral damage done along the way.... Its approach is likely to lead to the opposite: a larger trade deficit, fewer jobs (but more disrupted supply chains), and weakened national security as other allies question whether the US is a reliable partner. The result is increased protectionism at home and abroad, and retaliation against US exports along with it. And by rejecting trade agreements such as the TPP, the administration has missed an opportunity to reduce foreign-trade barriers and open up those markets to US exports...


#shouldread

Comments