Are Chinese products too cheap or are American products too expensive? From Jeff Thomas at internationalman.com:
“Trump is doing the right thing. Without him, we have no protection against China. China doesn’t only wish to dominate Asia, but the world.”
Here in Hanoi, so said my dinner companion – a major manufacturer and worldwide exporter of steel products.
He, like so many other major Asian producers, sees an opportunity in international trade for all of Asia to capitalize on.
In the Western world, the argument rages as to whether the US tariff war will benefit the US or not.
Of course, those of us who have a libertarian perspective regard all meddling in a free market as counter-productive. Historically, when tariffs are employed, each of the parties involved ultimately becomes a loser. The aggressor suffers as much as the aggressee, as, first, the people of that country must pay more for goods imported, and second, a trade war results in diminished trade overall, hurting both economies.
But there are benefits to be had. The benefits fall to those countries that stayed out of the fray.