Thursday, August 09, 2018
The Trade Deficit Has Increased Since Trump's Trade War
The chart above shows the tariffs imposed by Donald Trump, the tariffs imposed in retaliation, and the tariffs Trump has threatened to further impose. Trump has started this trade war because he thinks the trade deficit is hurting this country (many economists disagree). He thinks his tariffs will make other countries import more American goods and export less to the United States. Has it worked?
It has not worked, at least so far. The truth is that the trade deficit is on target to be the largest in a decade (since 2008, during the Great Recession). Here is how Heather Long , in The Washington Post, describes what is happening: