Are Trump's Trade Tariffs the Art of the Deal Or Simply Bad Deals?

The president said on Wednesday that we aren't in a trade war with China. And that's a relief, because it sure feels like shots are already being fired. In response to Donald Trump's tariffs on steel and aluminum, China imposed tariffs on a host of agricultural products this week. The White House met those with a new round of proposed tariffs on some 1,300 Chinese goods, to which China responded with more tariffs of its own. This is how trade fights escalate into trade wars, which then decimate economic growth for all involved. Our concern here isn't whether the president is provoking China. After all, China has a history of stealing American technology and pressuring foreign companies to hand over intellectual property to Chinese firms as a condition of doing business there. China deserves much more than a rap on the knuckles.   Continue reading...