August 7, 2019

THEY ASKED FOR IT....:

No Relief in Sight for the Casualties of Trump's Trade War: Pssssst: It's not the Chinese. (ANDREW EGGER  AUGUST 6, 2019, The Bulwark)

The story of how this all came about, which the Wall Street Journal reported Sunday, is as fascinating as it is infuriating. After yet another series of talks between U.S. and Chinese trade representatives last Wednesday proved unproductive in extracting concessions from the Chinese, Trump, angered that his negotiators had been unable to extract a win he could trumpet at a campaign rally that day, made a snap decision that went against the advice of nearly all his advisers:

"Tariffs," Mr. Trump said to his team, one of the people said. Those present included his national-security adviser John Bolton, top economic adviser Lawrence Kudlow, China adviser Peter Navarro and acting chief of staff Mick Mulvaney.

All of them, save Mr. Navarro, a China hawk, adamantly objected to the tariffs, the people said. That spurred a debate lasting nearly two hours, one of the people said. Beijing insists that tariffs must be dropped in return for concessions demanded by the U.S.

The president said his patience had worn thin and stood by his argument that tariffs were the best form of leverage, the person said.

His advisers eventually conceded, one of these people said, and then helped the president draft the tweet announcing an extension of tariffs to essentially all Chinese imports.

As the trade war has dragged on, American farmers have clung to the increasingly desperate hope that Trump is operating according to some great strategy--that President Deals has an ace up his sleeve that will soon bring China to its knees. Last summer, they were still optimistic--although many were rattled even then that there was no end in sight. When the dispute dragged on into the winter, they were partially placated by a round of emergency farm aid. As long as the thing wrapped up by spring planting, some hoped, they could weather the damage.

But now it's summer again, and things are still getting worse. All farmers can look to for comfort is the fact that things could be about $25 billion worse--the amount the White House has dispensed or pledged to dispense to hurting farmers. Meanwhile, all the Trump administration can do to reassure them is to say they'll keep pouring federal money on them to make up for the Chinese business they themselves bungled away, as President Trump did in yet another tweet Tuesday...

...and he's giving it to them....with the bark on.

Posted by at August 7, 2019 12:06 PM

  

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