US scholar on trade disputes

CNC
Added On August 10, 2018

 U.S. scholars are speaking out against the Trump administration's view on trade, saying protectionist measures will hurt American manufacturers, farmers and consumers.

 
Washington-initiated trade tensions have been running high since import tariffs were first unilaterally announced.
 
SOUNDBITE(English): DONALD J. BOUDREAUX, Professor at George Mason University "The main contributor to the situation is just economic ignorance on the part of the president and his trade advisors. They think of trade as a zero sum game they think of trade as a contest in which some countries win in and some countries lose."
 
Trump, who thinks of the United States and other countries the same way he thinks of companies, wants a lower U.S. trade deficit or a trade surplus.
 
SOUNDBITE(English): DONALD J. BOUDREAUX, Professor at George Mason University
"And a country is not a company and America does not compete with China or with Germany or with Argentina in the same way that General Motors competes with Toyota or Apple competes with Microsoft. This mindset that President Trump has of countries being companies is totally wrong."
 
Scholars say the trade disputes don't only put global supply chains and the world economic and trading system at risk, but also hurt U.S. manufacturers, farmers and consumers.
 
According to Boudreaux, Trump's trade policy might slow U.S. economic growth, or even reverse it.