Trump Makes It Harder for China to Cut a Deal
The president’s escalating trade war serves nobody’s interests.
Tough on trade — and American shoppers.
Photographer: Andrew Harrer/BloombergAs promised, U.S. President Donald Trump has escalated his trade war against China — announcing tariffs of 10 percent on another $200 billion in goods, plus a threat to raise the levy to 25 percent next year. Nearly half of China’s exports to the U.S. now face Trump’s taxes on trade.
The president boasts that the latest measure will bring in a lot of revenue. Indeed it will — but remember where that revenue will come from. Trump’s tariffs are first and foremost a tax on American consumers. They’ll also hurt U.S. companies operating in China or using Chinese components, help their rivals in other countries, increase business uncertainty, and further undermine the rules-based global trading system.