His obsession is the U.S. trade deficit with China, even though any reputable economist (a designation that excludes Trump trade guru Peter Navarro) would tell you that trade deficits don’t really matter. Ironically, the U.S. trade deficit spiked during Trump’s trade war. The details of the trade deal haven’t been released, but there is no reason to think it will achieve any of these goals. ADADWaging a trade war is like hitting your head against a wall; it feels good when you stop. Trump would rather trumpet “our GREAT new deal with China” than take serious action to address the real challenges from China.

Source: Washington Post December 16, 2019 23:37 UTC