Trump's trade war could scramble the international trading system in China’s favor

[Cypress]

Trump Tariffs Threaten to Upend Global Economic Order​

The invoking of national security to unravel trade agreements could scramble the international trading system in China’s favor.

President Trump’s move this weekend to slap sweeping tariffs on Canada, Mexico and China is threatening to fracture the global trading system and a world economic order that once revolved around a U.S. economy that prized open investment and free markets.

The speed and scope of the import duties that Mr. Trump unveiled in executive orders on Saturday prompted widespread criticism from many lawmakers, economists and business groups, who assailed the actions as economic malpractice. They warned that the tariffs, which were levied in response to Mr. Trump’s concerns about fentanyl smuggling and illegal immigration, could inflame inflation, cripple American industries and make China an even more powerful global trade hub.

Mr. Trump on Sunday defended the tariffs while acknowledging that there could be some negative consequences.

Trump Tariffs Threaten to Upend Global Economic Order

The invoking of national security to unravel trade agreements could scramble the international trading system in China’s favor.

www.nytimes.com

 

[Walt]

I do not see why we would want to upend a global order that gives us(5% of the world's population) 25% of the world's production. Maybe if we produced a good alternative first, it would make sense, but trump has no good alternative first. he is hoping that maybe in a few years, we can build something new to replace the global order...

Can you live a good life for the next few years on 20% of your past income?

What is weird is I think I might actually be able to survive this without too much trouble. That is an odd thought.

 

[Hawkeye10]

China was winning before Trump....that China is winning and the West is dying is the reason Washington is acting like they are....panicked.