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The Guardian - US
The Guardian - US
Comment
Steven Greenhouse

Trump is losing his foolish trade war. This will cost ordinary Americans greatly

Donald Trump United States America European Union Economic Growth Ford Inflation
US food prices continue to rise despite cooling inflationepa11152711 A man shops for dairy products for sale at a Whole Foods grocery store in Bethesda, Maryland, USA, 14 February 2024. Despite cooling inflation, food prices rose by another 0.4 percent in January 2024, according to the latest report from Consumer Price Index (CPI). EPA/JIM LO SCALZO
‘Some economists are warning that Trump’s tariffs will bring back stagflation, a dangerous combination of rising prices and slowing growth last seen in the 1970s.’ Photograph: Jim Lo Scalzo/EPA

The ever-bombastic Donald Trump has boasted repeatedly of his trade victories, while White House news releases trumpet his “historic trade wins”. The Wall Street Journal echoed Trump’s triumphalism with a headline saying, “Trump is Winning His Trade War”, and last week the New York Times used the exact same words in a headline. That must have been music to the president’s ears.

Forgive me for being a spoilsport, but I don’t see where the victory is or how Trump is winning. I keep reading how Trump’s trade war and tariff machinations have pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputter.

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