Friday, March 9, 2018

Trump's Tariffs Order

(this) #hemakesmesicktoo

I ate Trump's tariffs order. Now sick o protectionism.
I ate Trump's tariffs order. Now sick on protectionism.

"... “The tariff action coupled with the mishandled renegotiations of existing trade deals have alienated the very countries we need as allies to help confront the challenges posed by China,” said Daniel M. Price, a former Bush White House adviser. ..."

"... If the World Trade Organization rules against the United States, the Trump administration will have to decide whether to reverse its decision or go up against the organization. If the United States ignores or withdraws from the group, it could precipitate a breakdown in global trading rules and a new era of global protectionism. “It opens up this horrible Pandora’s box, and we don’t know where that leaves other countries or where that leaves the W.T.O.,” said Monica de Bolle, a senior fellow at the Peterson Institute for International Economics. ..."

"... In 2002, President George W. Bush imposed steel tariffs of up to 30 percent. But facing an adverse ruling by the World Trade Organization and retaliation by trading partners, he lifted them 15 months before the end of the planned three-year duration. Studies found that more jobs were lost than saved and Republican leaders vowed not to repeat the experiment. ..."


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