Notwithstanding Trump’s mantra that the tariffs are paid by the Chinese, trade experts are virtually unanimous in concluding that they’ve been paid entirely by Americans. Administration figures have argued that the costs of the trade war are short-term, and that over time it will yield gains in employment and national security. The costs of the trade war to other sectors also have been significant. Plainly, there are sound economic reasons to reconsider the trade war. Trump’s trade war hasn’t changed that yet, nor has it seemed to alter the trajectory of the trade relationship for the future.

Source: Los Angeles Times January 15, 2020 23:15 UTC