Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The reality is that Trump's trade measures to date amount to small potatoes.Just as Trump's policies violate the spirit, if not the letter, of today's trade agreements, Reagan's trade restrictions exploited loopholes in existing arrangements. Trump's protectionism may well have very different consequences; history need not repeat itself. For one thing, even though their overall impact remains limited, Trump's trade restrictions have more of a unilateral, in-your-face quality. Much of Reagan's protectionism was negotiated with trade partners and designed to ease the economic burden on exporters.Indeed, these companies may even have become more profitable thanks to U.S. trade restrictions.Trump's unilateralism will cause greater anger among trade partners, and thus is more likely to generate retaliation.While Trump's policies purportedly aim to restore fairness in global trade, they exacerbate rather than ameliorate these problems. As Jared Bernstein and Dean Baker point out, Trump's tariffs are likely to benefit a small minority of workers in protected industries at the expense of a large majority of other workers in downstream industries and elsewhere.
Studying what’s driving populism
Can global rules prevent national self-harm?
An industrial policy for good jobs
FOLLOW THIS ARTICLE