Hacker News new | past | comments | ask | show | jobs | submit login

It’s not more impressive when a significant part of his problems are self made. There’s a reason trade wars are not fought, and protectionism has (had) died out. It empirically has been demonstrated to cost an economy many multiples of any hoped for benefits. This is Econ 101. The US was last this dumb with Smoot-Hawley, and we’d learned our lesson for almost 100 years.

Next, instead of paying down the debt, he ran the deficit up willingly during good times. Also bad Econ, no matter the party.

Steel and aluminum tariffs have raised the price of either in the US far above outside markets. As a result high tech industries that used to take that and turn it into precision instruments are losing foreign markets, many of which will never come back. Who wants unstable trading partners. And for what? Nothing but a handout to a few steelworkers at a large long term cost to consumers and producers alike.

The net result of all this nonsense is not making the US better off; Trump is running record trade deficits, despite saying he isn’t (easy to check). This is all unnecessary and only hurting the economy.

There’s a reason we (and most other countries) don’t do this type of nonsense anymore. It simply ruins economies. He was handed a strong one, still on an upswing. These choices will likely wreck it before it would have, through simple bad decisions.




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: