- Joined
- Mar 7, 2018
- Messages
- 62,453
- Reaction score
- 19,276
- Location
- Lower Mainland of BC
- Gender
- Male
- Political Leaning
- Centrist
From Associated Press
WASHINGTON (AP) — Insulting the host, alienating allies and threatening to suspend business with other countries: President Donald Trump was in full trade-warrior form for the weekend summit of the Group of Seven wealthy democracies in Canada.
The president’s acrimony raised the risk of a trade war that could spook financial markets, inflate prices of goods hit by tariffs, slow commerce, disrupt corporations that rely on global supply chains and jeopardize the healthiest expansion the world economy has enjoyed in a decade.
Leaving the conclave in Quebec on Saturday, Trump threatened to “stop trading” with America’s allies if they defied his demands to lower trade barriers. And he shrugged off the risk that his combative stance would ignite escalating tariffs and counter-tariffs between the United States and its friends — the European Union, Canada, Japan and Mexico.
“We win that war a thousand times out of a thousand,” the president declared before jetting off to negotiate the denuclearization of the Korean peninsula.
COMMENT:-
One cannot help but admire the confidence in his own omnipotence that Mr. Trump exhibits. Whether that confidence is actually backed by reality is something else entirely.
PS - That "stop trading" doesn't include anything that the US needs, like oil, electricity, aluminum, steel, and potash.
Why Trump’s combative trade stance toward allies poses risks
WASHINGTON (AP) — Insulting the host, alienating allies and threatening to suspend business with other countries: President Donald Trump was in full trade-warrior form for the weekend summit of the Group of Seven wealthy democracies in Canada.
The president’s acrimony raised the risk of a trade war that could spook financial markets, inflate prices of goods hit by tariffs, slow commerce, disrupt corporations that rely on global supply chains and jeopardize the healthiest expansion the world economy has enjoyed in a decade.
Leaving the conclave in Quebec on Saturday, Trump threatened to “stop trading” with America’s allies if they defied his demands to lower trade barriers. And he shrugged off the risk that his combative stance would ignite escalating tariffs and counter-tariffs between the United States and its friends — the European Union, Canada, Japan and Mexico.
“We win that war a thousand times out of a thousand,” the president declared before jetting off to negotiate the denuclearization of the Korean peninsula.
COMMENT:-
One cannot help but admire the confidence in his own omnipotence that Mr. Trump exhibits. Whether that confidence is actually backed by reality is something else entirely.
PS - That "stop trading" doesn't include anything that the US needs, like oil, electricity, aluminum, steel, and potash.
