Friday, January 22

Tag: trade war

China won the trade war
Business news

China won the trade war

A year ago, Tyler Cowen claimed that President Trump won round one of the trade war with China:I’m not entirely convinced we won even the first round of the trade war, although the claim might be true.  The stated goal of President Trump and his advisers was to reduce the US trade deficit with China.  A secondary goal may have been to slow the growth of China’s economy.  A third goal might have been to weaken the position of Xi Jinping, who has been moving China in a more repressive and nationalistic direction.Today, we know that the US failed spectacularly on all three counts.  Indeed the last year has been an unmitigated disaster for Trump administration protectionists.  Today’s Bloomberg has an article arguing (correctly) that China ended up winning the trade war:The trade def...