President Donald Trump adamantly refuses to see any issues with his approach to economic and foreign policy, no matter if they’re staring him in the face. Although the tariffs he’s imposed on nations around the world have backfired spectacularly and sent businesses across the United States scrambling, he still believes the whole situation is proceeding quite nicely.
Tuesday morning, he indicated as much while touting a temporary cease fire deal he struck with Chinese President Xi Jinping in the midst of the trade war between the two countries.
He insisted, in part:
‘President Xi and I want this deal to happen, and it probably will. But if not remember I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN’
To suggest that’s a gross oversimplification of the situation would be an understatement.
Although the cash flow supposedly spiked thanks to tariffs, it went down thanks to the slump in foreign purchases of American goods over retaliatory tariffs imposed by countries from Mexico to China.
As part of the temporary deal Trump and Xi struck ahead of something more permanent, the Chinese did agree to purchase an unspecified but “substantial” amount of goods from across American industries. However, for one, tariffs on some exported American products like soybeans still remain in place, and secondly, the increase in Chinese spending is really just starting to put back together the system Trump shattered with his punitive egomania-driven tariffs.
On Monday, after the Trump-Xi deal came out, soybean prices rose just above one percent.
In the past six months, they’d fallen more than ten percent.
Nobody cares what lame superhero name Trump can dream up for himself. (“Tariff Man” will no doubt be the punchline of many incoming jokes.)
We care about whether or not the path forward for American workers is allowed to run unimpeded. Right now, Trump’s firing into the dark — and that’s putting it lightly.
Featured Image via YouTube screenshot