Friday, April 26, 2019

Trump On Trade Deals, Again

Remember when our Supreme Leader withdrew the US out of the twelve-nation Trans-Pacific partnership, the free trade deal Obama had begun to negotiate but didn't finish? 

It was one of Trump's first acts as dictator, and it was based on his general view that the US was the victim of relentless worldwide bullying, and that he can do better trade deals, given that he sees himself as the master of the Art of the (bilateral) Deal.

The other eleven nations, of course, went on with creating the free trade deal, and now the chickens have come home to roost:

While Trump was busy slapping tariffs on China and other countries, Japan also concluded a pact with the European Union that lowered duties and other barriers to ease trade flows. Between the EU and Asia-Pacific, Japan is now starting to import substantially more from its free-trade partners, at America’s expense. That’s bad for U.S. farmers who were already reeling from tit-for-tat tariffs on soybeans and other farm goods entering China. 
For some products, the difference in tariffs is stark. Australian wine entering Japan is taxed at 5.6% and will eventually drop to zero. There’s no duty at all for wine from the EU and Chile. But for California, it’s 15%.

This is one of the zillions of chickens, most of whom are coming home to roost, because a sufficient number of American voters (with lots of help from Vlad's people) decided that competence, or the ability to see wider connections,  was totally unnecessary in the president of this country.  Even narcissism was perfectly acceptable. 

At least we avoided the email scandals...