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Wall Street Journal Burns 'Master Negotiator' Donald Trump for Starting Trade War: 'This Isn't Winning'

July 7, 2018 in Blogs

By Tom Boggioni, Raw Story

Under the snippy headline “So much trade losing,” the lead editorial compared the Trump trade war to the start of Civil War that led to nothing but tragedy for the rebels of the South.


As the trade war with China — caused by tariffs demanded by Donald Trump — heats up, the editors of the Wall Street Journal have taken the president to task, sarcastically mocking him as a “master negotiator” who has yet to negotiate any deals while causing damage to the U.S. economy.

Under the snippy headline”So much trade losing,” the lead editorial compared the Trump trade war to the start of Civil War that led to nothing but tragedy for the rebels of the South.

“The shooting has begun in the U.S.-China trade war, and let’s hope it’s not Fort Sumter,” the piece began. “The South figured the Civil War would last a few weeks, but things happened. That’s the nature of trade wars as well, and while no one is likely to win this confrontation, both sides could certainly lose.”

Noting the launching of Trump's tariffs with the U.S.  “imposing tariffs of 25% on $34 billion of Chinese imports, and Beijing retaliated on an equal value of U.S. goods,” the Journal said the war has already battered soybean farmers deep in Trump country, as well as a wide range of U.S. products.

“The damage is already serious for American soybean farmers whose biggest customer is China. They now face a 28% tariff while competitors in Brazil and elsewhere pay no duty. The cash price for U.S. soybeans recently fell to its lowest level in about a decade,” they wrote. “Producers of beef, pork, chicken and seafood will also take a hit. U.S. automakers, which will now pay a 40% tariff after it had recently fallen to 15%, will lose sales of highly profitable SUVs that are increasingly popular with Chinese consumers”

“Meanwhile, American consumers will pay more for cars and health care due to U.S. tariffs on Chinese-made auto parts and medical instruments,” they continued. “For example, world-leading semiconductor companies are upset that chips made in the U.S. …read more

Source: ALTERNET

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