Of course, I know it’s wrong. The Trump tariffs will end in tears…retaliatory tariffs from disgruntled Europeans, higher costs for US car manufacturers who’ll pay more for steel and parts from Canada, a diplomatic standoff with longstanding allies like Japan and crucially, a whopping great increase in the cost of living for the American consumers whom Donald Trump wooed with the promise of lower prices.
Fancy paying 20 per cent more for your flat screen TV, huh? I do realise that there’s a further agenda, viz, to diminish the attraction of US Treasury bonds and to deflate the dollar, but let’s stick to the obvious stuff. This is the end of globalisation…which is a bad thing, no?
