The Latest News from the Trade War

The big story on Tuesday was another round of Democratic presidential primary debates, where the center-left types reportedly clashed with the more leftward types, but our brother and his wife are in town and the weather’s been far too nice to bother with that at the moment. When we got home we were more stuck by the latest on news on the ongoing trade war with China.
President Donald Trump has “tweeted” his assurance that “trade wars are good and easy to win,” but his trade war with China has thus far proved neither good nor easy to win. Trump and his die-hard fans have been telling us for at least a year that China is down on its knees begging for any trade agreement Trump might grant them, but the latest presidential “tweets” signal that the Chinese are willing to hold out for better terms until at least the next presidential election, when they might get the chance to negotiate with another administration. Naturally Trump is blaming the Democrats for daring to choose someone who might challenge him, and promising that if he gets reelected he’ll deliver the greatest trade deal the world has ever seen, a trade deal so great your head will spin.
We don’t have much faith any of these Democratic contenders will do any better, but neither do we worry our heads will fatefully spin with what Trump brings about. The trade war is is definitely harming China’s economy, as Trump triumphantly “tweets,” but only the most slack-jawed yokel in a red “Make America Great Again” ball cap believes that America is benefiting from all those billions of tariff dollars the Chinese are pouring into our best-ever economy. The tariffs are being paid by the MAGA-cap-wearing suckers lined up at Wal-Mart with a basketful of Chinese goods, the world’s two biggest economies are both taking a hit, the rest of the world’s economy are slowing as a result, and it all makes it somewhat more likely another administration will finish the negotiations. Chinese dictator Xi Jinping, described by Trump as a “close friend,” doesn’t have to worry about any upcoming election campaigns, and survive an economic slowdown more easily than any head of state from a more or less democratic nation.
Once upon a time in the Grand Old Party we could have imagined well-credentialed Republican experts dealing with China, and such establishment presidents as Eisenhower and Nixon and Reagan and a couple of Bushes guiding them along. China is indeed an unfair trading partner, stealing intellectual property and occasionally manipulating its currency and charging unfair tariffs, but they’re doing that to the rest of the world, too, and we think a unified world could convince them to stop. Trump has instead chosen to start trade wars with the rest of the world, but most of these Democrats are even more isolationist and protectionist than Trump, and those well-credentialed Republican experts who use to handle these matters in a way that furthered global peace and prosperity are sitting next to us on the political sidelines.
On such a sunny summer day as this,  and with our brother and  sister-in-law in town, we’ll hope for the best.

— Bud Norman

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