Trump's New Trade War | The Odyssey Online
Start writing a post
Politics

Trump's New Trade War

What does a trade war entail, and does our economy stand a chance?

47
Trump's New Trade War
iPolitics

Since Trump announced a new set of protectionist measures on March 1, different corners of the world have gradually been drawn into the economic cyclone. Despite negative feedback from US allies, Trump’s actions have been consistent, culminating in the imposition of new tariffs on China Thursday the 22nd.

Since then, Trump has specifically designated China as the target of a trade war. Immediately, they retaliated by announcing tariffs on 128 American goods, including steel and pork. Steel itself has been a subject of particular interest throughout the month, as steel and aluminum were the first imports Trump announced he would tax. As of now, only Mexico, Canada, the EU, South Korea, Australia, Brazil, and Argentina are exempted from steel and aluminum tariffs.

Moreover, Thursday’s announcement came alongside a decision by Trump to seek action against China in the World Trade Organization. His use of international institutions in this case is surprising, as the European Union has been a major advocate against his protectionism— it has threatened to tax hundreds of US items if American tariffs are upheld.

Christopher Pissarides, a Nobel Prize winner and professor at the London School of Economics, sees the waging of a trade war as “likely entirely engineered as an appeal to his base” (Choudhury, CNBC). For Pissarides, Trump is attempting to make good on his campaign promise to revive the US manufacturing industry by eliminating foreign competition.

However, Pissarides also notes the problems inherent to Trump’s initial campaign promise. Rather than regressing to a previous economic era, he thinks that the US should be “pushing along the technological frontier” (Choudhury, CNBC).

Though critics are vocal, supporters of the Trump administration are confident in the ability of the United States to perform in a match-up with the Chinese economy. Some, like Alan Tonelson of The National Interest, explain that “China has much more to lose economically than the United States from an upward spiraling of trade barriers” (National Interest Online, 2018).

Ultimately, Trump’s new trade war can be seen as another manifestation of his ‘America-first’ foreign policy. Though the impact that will be felt by the American economy is to be seen, it is clear that the issue of American protectionism is not limited to Chinese borders.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Entertainment

Every Girl Needs To Listen To 'She Used To Be Mine' By Sara Bareilles

These powerful lyrics remind us how much good is inside each of us and that sometimes we are too blinded by our imperfections to see the other side of the coin, to see all of that good.

142003
Every Girl Needs To Listen To 'She Used To Be Mine' By Sara Bareilles

The song was sent to me late in the middle of the night. I was still awake enough to plug in my headphones and listen to it immediately. I always did this when my best friend sent me songs, never wasting a moment. She had sent a message with this one too, telling me it reminded her so much of both of us and what we have each been through in the past couple of months.

Keep Reading...Show less
Zodiac wheel with signs and symbols surrounding a central sun against a starry sky.

What's your sign? It's one of the first questions some of us are asked when approached by someone in a bar, at a party or even when having lunch with some of our friends. Astrology, for centuries, has been one of the largest phenomenons out there. There's a reason why many magazines and newspapers have a horoscope page, and there's also a reason why almost every bookstore or library has a section dedicated completely to astrology. Many of us could just be curious about why some of us act differently than others and whom we will get along with best, and others may just want to see if their sign does, in fact, match their personality.

Keep Reading...Show less
Entertainment

20 Song Lyrics To Put A Spring Into Your Instagram Captions

"On an island in the sun, We'll be playing and having fun"

34493
Person in front of neon musical instruments; glowing red and white lights.
Photo by Spencer Imbrock on Unsplash

Whenever I post a picture to Instagram, it takes me so long to come up with a caption. I want to be funny, clever, cute and direct all at the same time. It can be frustrating! So I just look for some online. I really like to find a song lyric that goes with my picture, I just feel like it gives the picture a certain vibe.

Here's a list of song lyrics that can go with any picture you want to post!

Keep Reading...Show less
Chalk drawing of scales weighing "good" and "bad" on a blackboard.
WP content

Being a good person does not depend on your religion or status in life, your race or skin color, political views or culture. It depends on how good you treat others.

We are all born to do something great. Whether that be to grow up and become a doctor and save the lives of thousands of people, run a marathon, win the Noble Peace Prize, or be the greatest mother or father for your own future children one day. Regardless, we are all born with a purpose. But in between birth and death lies a path that life paves for us; a path that we must fill with something that gives our lives meaning.

Keep Reading...Show less
Health and Wellness

10 Hygiene Tips For All College Athletes

College athletes, it's time we talk about sports hygiene.

30915
Woman doing pull-ups on bars with sun shining behind her.

I got a request to talk about college athletes hygiene so here it is.

College athletes, I get it, you are busy! From class, to morning workouts, to study table, to practice, and more. But that does not excuse the fact that your hygiene comes first! Here are some tips when it comes to taking care of your self.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments