July 16, 2018

THE rIGHT IS THE lEFT:

What progressives like about Trump's trade war (Jeff Spross, 7/16/18,  The Week)

[A]fter I spoke with several economists on the left and reviewed their recent writings, it became clear to me that many of them believe Trump actually gets a decent amount right on trade.

Many progressive economists broadly agree with Trump that America's trade relationships with other countries are a dysfunctional mess -- and that they've done serious damage to American workers.

"It would be deeply unwise to ignore the power of [Trump's] message," Heather Boushey and Todd Tucker -- the chief economist at the Washington Center for Equitable Growth, and a political scientist at the Roosevelt Institute, respectively --recently wrote at Vox. They pointed to evidence that the start of global trade relations with China in 2000 decimated jobs and wages for blue-collar workers here in America.

Trump has responded to this reality with massive tariffs -- something some progressive economists agree with, at least in principle.

"Tariffs are sorely needed to retaliate for theft of intellectual property, state-owned enterprises, overcapacity, and other forms of unfair trade, including more than a decade of massive currency manipulation," Robert Scott of the Economic Policy Institute (EPI) told me.

Like Trump, many progressive wonks are deeply critical of the world's free-trading order. 



Posted by at July 16, 2018 4:23 AM

  

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