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Originally shared by Rick Li - 2 comments
#Trump probably regards #tradedeficits as losses because he views exports as sales, imports as costs and trade balances as either a loss or a profit and thinks that trade deficits derive from costs being greater than sales. This kind of misunderstanding is often seen among executives not familiar with macroeconomics and trade. But the Trump administration has no aides or Cabinet members who can correct the president’s misunderstanding.

His advisers and Cabinet members in charge of trade issues, such as #PeterNavarro, head of the National Trade Council, Secretary of Commerce #WilburRoss and U.S. Trade Representative #RobertLighthizer, share the president’s views. The administration’s obsession with reducing trade deficits is not likely to change. Any attempt to cut bilateral trade deficits by restricting imports from other countries or imposing high tariffs would only push up the price of imports or competing domestic products, thereby raising costs for U.S. consumers.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #AmericanEconomy
Is Trump’s #protectionist drive unstoppable?
https://www.japantimes.co.jp/opinion/2018/07/04/commentary/japan-commentary/trumps-protectionist-drive-unstoppable/
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#Europe’s top trade official #CeciliaMalmstrom will meet U.S. counterparts #WilburRoss and #RobertLighthizer in Paris on Wednesday (May 30), two days before a temporary reprieve from U.S. steel and aluminum tariffs is due to expire. The Commission, which oversees trade policy for the 28-country #EuropeanUnion, is seeking a permanent exemption from the tariffs, saying the EU is a U.S. ally and not responsible for global overcapacity of either steel and aluminum. Malmstrom herself said last week she did not think an #EU proposal to discuss opening its markets wider to #US imports had convinced Washington to lift the threat of measures to curb EU steel imports.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
EU trade chief to meet U.S. peers Ross, Lighthizer in Paris on Wednesday
https://www.reuters.com/article/us-usa-trade-eu/eu-trade-chief-to-meet-us-peers-ross-lighthizer-in-paris-on-wednesday-idUSKCN1IT1T4
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To prevail in any international confrontation - whether it is disarming North Korea, stifling Russian aggression or fixing trade aggression - the president needs to know the enemy, cultivate allies to bring pressure that compliments U.S. actions and implement a strategy that makes retaliation difficult.

Mr. #Trump’s hawks - Ambassador #RobertLighthizer and Trade Director #PeterNavarro - confuse trade with the world with trade with #China. The WTO isn’t busted and our allies are not trade criminals. #Europe has its dysfunctions - most significantly Germany ‘s obsession with trade surpluses that victimized southern #EU members and the #UnitedStates - but slapping tariffs on Europe and #Canada does not solve America’s number one trade problem.


#GlobalEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
How to win a trade war with China
http://www.foxnews.com/opinion/2018/06/19/how-to-win-trade-war-with-china.html
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Some White House officials are trying to restart talks with #China to avoid a #tradewar before #US #tariffs on Chinese products take effect July 6, setting up a battle with others in the administration who favor a harder line. Staff of the National Economic Council have contacted former U.S. government officials and China experts in recent days to gauge chances for high-level talks in the next two weeks. One idea NEC staff floated inviting Chinese Vice President #WangQishan before the tariff deadline

There are different views within the #Trump administration on what could be considered a win. Hard-liners such as U.S. Trade Representative #RobertLighthizer and White House trade adviser #PeterNavarro are pushing for structural changes to China’s policies. Treasury Secretary #StevenMnuchin and NEC Director #LarryKudlow are more receptive to a deal aimed at lowering the bilateral trade deficit.


#GlobalEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
White House Split Over Hardline Response to China Trade War
https://www.bloomberg.com/news/articles/2018-06-21/u-s-weighs-resuming-china-talks-amid-split-on-trump-trade-team
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Take a look at @samirsinh189's Tweet: https://twitter.com/samirsinh189/status/817070622798790656?s=09

After #PeterNavarro as Trade Adviser, #Trump appoints #RobertLighthizer as Trade Representative. Trump readying forces for China Trade War?
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#US Trade Representative #RobertLighthizer said Tuesday (May 1) that getting #China to change longtime trading practices which are hurtful to U.S. interests would be 'a big, big challenge' for the #Trump administration. Lighthizer is part of the high-level U.S. delegation that hopes to begin the process of negotiating some form of a truce between the two nations amid an escalating trade fight in which both heavyweights have threatened billions in tariffs. Lighthizer will be traveling to China with Treasury Secretary #StevenMnuchin, Commerce Secretary #WilburRoss, National Economic Council Director #LarryKudlow and White House trade adviser #PeterNavarro.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
Lighthizer not counting on China breakthrough ahead of trip
https://www.politico.com/story/2018/05/01/lighthizer-china-trade-breakthrough-1140603
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Marking the latest salvo in a tit-for-tat dispute over trade, #Trump directed U.S. Trade Representative #RobertLighthizer to identify $200bn worth of Chinese goods that would be hit with a 10% tariff, according to a statement from the White House. Trump said the new tariffs will go into effect 'if #China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced.' The #US will prepare tariffs on another $200bn in Chinese products, doubling the total amount, if China chooses to respond by raising its own tariffs again.


#GlobalEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
Trump threatens to slap China with $200 billion in new tariffs
https://www.foxbusiness.com/politics/trump-threatens-to-slap-china-with-200-billion-in-new-tariffs
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#Trump names trade #hawk and #China critic #RobertLighthizer as #US trade tsar
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