Trade Wars – Nobody wins

  • 1929’s US trade protectionist policies extended the Great Depression by ten years
  • Trade Wars result in domestic inflation
  • Positive effects of US tax reform muted by threat of trade wars
  • Robert Shiller, an American Nobel laureate and Yale economics professor, said that US  trade wars with China would result in an economic crisis if they continue to escalate.
  • The US needs China to help negotiate with North Korea in regards to their nuclear arms
  • The US needs China to continue buying their government debt to finance the American’s massive $1 trillion annual budget deficit.
  • The ongoing trade rhetoric between China and the US will get worse before any agreement is reached
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