Trump ' s Unfair Deals?A Free-Trade Parable

As Dan noted, President Trump has been in Asia, making a state visit to China and then meeting with foreign leaders at an Asia-Pacific Economic Cooperation forum in Vietnam. As part of the trip, and perhaps in an effort to recapture his populist mojo amidst cratering job approval numbers back home, he has remounted one of his favorite hobby horses: decrying “unfair trade deals” that he says put America at a disadvantage with its trading partners.The president does make oblique references to barriers that other countries place on American products entering their markets. But  his comments suggest his biggest concern is the large trade deficits the United States has with some countries. According to Trump, those deficits are all the proof necessary that America is being snookered, and that current trade arrangements should be dissolved and renegotiated.“The United States really has to change its policies because they’ve gotten so far behind on trade with China and, frankly, with many other countries,”he said in a press conference with President Xi in China. “The current trade imbalance is not acceptable,”he told reporters in Vietnam, adding: “I do not blame China or any other country, of which there are many, for taking advantage of the United States on trade. If their representatives are able to get away with it, they are just doing their jobs. I wish previous administrations in my country saw what was happening and did something abo ut it. They did not, but ...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs