Trump is right, the trade deficit is a problem
but where Trump is wrong is thinking
that these tariffs are going to solve
the problem. They won't. They will make
the problem worse.
This is the irony of
these tariffs. They will result in larger
trade deficits not smaller trade
deficits and that's even without any
foreign retaliation meaning if China, if
Europe, if our trading partners do
nothing in response to these tariffs the
result will be larger not smaller
deficits. And manufacturing jobs, the very
jobs that Trump is hoping to save, manufacturing jobs will be lost as a
result of these tariffs.
