The United States will spend a generation or longer in the "find out" phase after the OAFPOTUS began a trade war against our most powerful adversary while simultaneously crippling our ability to win it:
You can see it in the economic numbers: China’s economy grew by an average of 5.3 percent in the first half of the year, America’s by only 1.25 percent. You can see it, too, in Trump’s failure to wring significant concessions from Beijing. Though most countries have acquiesced to U.S. trade bullying, China has not. In April, Trump hiked U.S. tariffs on Chinese goods to 145 percent. China retaliated with 125 percent tariffs on U.S. goods. Then President Xi Jinping ramped up the pressure by restricting exports of rare earth metals to the United States, which threatens to halt production of cars, fighter jets and other products.
While conciliating Beijing, Trump has been alienating U.S. allies in the Asia-Pacific region with his capricious tariff threats. The latest to suffer is India, a key U.S. partner in confronting China. Trump announced Wednesday that he was hitting India with 25 percent tariffs, to be followed by additional sanctions to punish India for buying oil and gas from Russia. It makes sense to pressure India to reduce its economic relationship with Russia, but these blunderbuss tariffs threaten to undo decades of efforts by American administrations, including the first Trump administration, to draw India into the U.S. orbit. Now there are signs of a reconciliation between New Delhi and Beijing.
Trump’s attempts to close down Voice of America are another gift to Beijing. From Indonesia to Nigeria, Chinese state media is filling the vacuum left behind by VOA. Trump’s decision to walk away from the World Health Organization and UNESCO has also opened the door for China to increase its influence in those international organizations.
China’s Achilles’ heel has long been the fear it engenders with its aggressive behavior and lack of respect for other nations. Now, America is acting a lot like China and paying the price in global opinion.
Trump’s tariff hikes, budget cuts and immigration restrictions are weakening America and inadvertently strengthening its chief rival.
I'm not a conspiracy theorist, but it strikes me that tanking the US economy would give billionaires and private equity the biggest gift in history and rapidly create an entirely rentier-driven, parasitic, stratified economy that, history tells us, would end in violence. So is that the end game? Or are these guys really that stupid? It's so hard to tell.
One thing, though: the more I hear about BYD cars, the more I want one. Unfortunately they're not for sale here—mainly because they're technologically superior to anything Tesla has, and a fraction of the cost. The free market doesn't apply when your friends need billions in profits.
So we'll protect Tesla and GM, while making it nearly impossible for either of them to build here because of the OAFPOTUS's asinine commodity taxes, making US consumers pay higher and higher prices for inferior products. Like I said: rentier economy.