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Trump is on collision course with its trading partners: the U.S. trade deficit apparently proves that the U.S. is being fooled by its foreign trading partners that sell more to the U.S. than that they buy in return. Hence, Trump thinks that he can “win” a trade war by slapping on import tariffs until the trade deficit with any given individual country exactly equals zero. Any country that has a trade deficit with the U.S. is at risk of Trump’s insanity.

In the first round of Trump’s trade war, the U.S. introduced import tariffs on steel and aluminum. Last week, we entered the second round of Trump’s trade war, as Trump announced to impose import tariffs on approximately $60 billion in Chinese technology imports. Trump accuses the Chinese of intellectual property theft. China directly retaliated with tariffs on U.S. pork, wine and fruits. Yet Trump’s trade war borders on insanity, as he increasingly shows to be completely ignorant on foreign trade.

Brief Explanation of the Balance of Trade

Source: U.S. Census

Trump’s Trade War Is Insane

But Trump Lowered Taxes!

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