Donald Trump’s trade war with China isn’t a win

Financial Express | April 18, 2019

Donald Trump’s trade war with China isn’t a win
In March 2018, President Donald Trump uttered his famous declaration that “trade wars are good and easy to win”. A little more than a year later, it looks as if Trump is losing the trade war he started with China. The tariffs that Trump slapped on Chinese goods and the additional tariffs he threatened may have dinged China’s economy. Most data sources indicate that Chinese growth slowed a bit in 2018. That dip could have been due to government efforts to constrain credit growth, but many believe that Trump’s tariffs hurt business confidence and slowed investment. That makes sense, since any company thinking about making their products in China would have to worry that Trump would make it hard to sell those products in the US. The trade war has given multinationals an incentive to accelerate their plans to shift production out of China, and has probably made Chinese companies more cautious as well. But the US was also sideswiped by the trade war.

Spotlight

The Export-Import Bank of the United States (Ex-Im Bank or the Bank), a wholly owned U.S. government corporation, is the official export credit agency (ECA) of the United States. Its mission is to assist in the financing of U.S. exports of goods and services to support U.S. employment. The FY2015 continuing resolution (Sec. 147 of P.L. 113-164) extends its general statutory charter (Export-Import Bank Act of 1945, as amended, 12 U.S.C. §635 et seq.) through June 30, 2015. The 114th Congress may debate whether to renew Ex-Im Bank’s authority; if so, for how long and under what terms; and if not, other policy alternatives.


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Spotlight

The Export-Import Bank of the United States (Ex-Im Bank or the Bank), a wholly owned U.S. government corporation, is the official export credit agency (ECA) of the United States. Its mission is to assist in the financing of U.S. exports of goods and services to support U.S. employment. The FY2015 continuing resolution (Sec. 147 of P.L. 113-164) extends its general statutory charter (Export-Import Bank Act of 1945, as amended, 12 U.S.C. §635 et seq.) through June 30, 2015. The 114th Congress may debate whether to renew Ex-Im Bank’s authority; if so, for how long and under what terms; and if not, other policy alternatives.

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