Last January I wrote a post titled, "Thanks Mr. President, Again".
I described how wrong all of the predictions of the disaster that would be the Trump presidency had been one year into his term. One of those predictions was that we would be involved in trade wars. We are now. While we were not at the time, the clear implication of my post was that we would not be. I was wrong.
That said I don't see any problem with the trade wars.
President Trump has rightly pointed out that many of our trade deals are decidedly unbalanced.
One example I had not heard of was automobile trade with Germany. The only significant European Union auto exporter to the USA.
Our exports to the European Union are subject to a 10% tariff. Our imports from the EU? 2.5%. That is just wrong and if it takes a "war" to get it right, so be it.
As is the case with every other nation we trade with, they need us much more than we need them particularly now that we are self-sufficient in fossil fuels. We are obliged to use that very real leverage to the benefit of this country.
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