April 3, 2017

ALWAYS BET ON THE dEEP sTATE:

Trump Is Wimping Out on Trade (Paul Krugman APRIL 3, 2017, NY Times)

[T]he executive orders in question were, to use the technical term, nothingburgers. One called for a report on the causes of the trade deficit; wait, they're just starting to study the issue? The other addressed some minor issues of tariff collection, and its content apparently duplicated an act President Obama already signed last year.

Not surprisingly, reporters at the event questioned the president, not about trade, but about Michael Flynn and the Russia connection. Mr. Trump then walked out of the room -- without signing the orders. (Vice President Mike Pence gathered them up, and the White House claims that they were signed later.)

The fiasco perfectly encapsulated what's looking more and more like a failed agenda.

Business seems to have decided that Mr. Trump is a paper tiger on trade: The flow of corporate relocations to Mexico, which slowed briefly while C.E.O.s tried to curry favor with the new president, has resumed. Trade policy by tweet, it appears, has run its course.

Investors seem to have reached the same conclusion: The Mexican peso plunged 16 percent after the election, but since Inauguration Day it has recovered almost all the lost ground.

Oh, and last week a draft proposal for revising the North American Free Trade Agreement circulated around Congress; instead of sweeping changes in what candidate Trump called the "worst trade deal" ever signed, the administration appears to be seeking only modest tweaks.

Even Paul Krugman gets to do victory laps on this clown.
Posted by at April 3, 2017 5:46 AM

  

« THE CHRISTIAN/SHI'A ALLIANCE: | Main | FATHERS PLAYING SOFTBALL WITH SONS: »