“One of Donald Trump’s closest advisers has told the BBC that the US would win a trade war with China.
Anthony Scaramucci warned that if China chose to retaliate when the Trump administration imposed tariffs on imports, it would cost them “way more” than it would cost the US.”
See Trump would win trade war with China, says aideMutual Assured Destruction (MAD) has been a guiding principle in global affairs since I was a young man. Trump seems to have skipped that part of growing up. No one wins a big war. The costs are horrendous. The end doesn’t justify the means. No way.
That applies to economic warfare as well as nuclear war. Wars can be started in minutes these days. An economic war can involve turning back ships headed for ports of both countries. It could take years for both economies to come back to equilibrium. Total economic activity would be down and might never recover. What of all the businesses shut down, employees laid off due to lack of business? What is the cost of a new Great Depression brought on by Trump’s stupidity?
There’s a reason we have international trade agreements. They are not there to make Trump look good. They are there to help us get away from economic warfare. The world can’t stop the game just because Trump is having a tantrum about the rules. Just play the game, whiner!