The Macroeconomics of Trade War

In Economy, Uncategorized On
- Updated

Will Trump back down from his urge to start a trade war? Nobody knows; the thing is, he’s been an ignorant trade hawk for decades, he’s feeling beleaguered on many fronts, and word is that his doctor has told him to eat fewer burgers. So there’s surely a lot of pent-up rage that he’s all too likely to take out on the world trading system, especially when he tweets stuff like this:

So it’s worth asking what would happen if Trump really did try to close the trade gap – it’s actually $500 billion, not $800 billion, but who’s counting – by imposing tariffs.

The trade gap is currently running a bit shy of 3 percent of GDP, while imports are 15 percent of GDP:

Read full article

Ryan Criticizes Tariff Plan as Trump Issues NAFTA Threat

The Trump Tariffs Will Cost Americans Jobs

You may also read!

The Secrets of ‘Cognitive Super-Agers’

One of my greatest pleasures during the Covid-19 shutdowns

Read More...

Is Education No Longer the ‘Great Equalizer’?

There is an ongoing debate over what kind of

Read More...

Even the terrorist threat to the United States is now partisan

Hours after he announced his objection to forming a

Read More...

Mobile Sliding Menu