Trump defies the laws of economics

ArticleDeflationMay 24, 2018 - 3:39:47 AM

Donald Trump's request , for China to reduce its trade deficit with the United States by $200 billion over two years is a major political challenge.

Recently, the president revisited Treasury Secretary Steven Mnuchin's comments over the weekend, essentially calling the emerging trade war with China a "truce. The administration has threatened to levy high tariffs on Chinese products entering the United States unless China reduces its trade surplus with the United States by $200 billion by 2020.

"Last year, we lost $500 billion on trade with China," Trump mistakenly said at a March 23 press conference. "We can't let that happen..."


On the same subject