The Donald apparently believes that ever since Smoot-Hawley worked out so well in the 1930s that the US has foolishly been engaged in unilateral disarmament on the trade front.
In fact, if trade is all about bilateral export/import scoreboards and whose tariff is bigger, then to hear the Donald tell it you would think America has the shortest one on the planet at barely 2% of imported goods’ value.
So call it the Tiny Tariff Syndrome (TTS), if you must. But it’s not the source of America’s massive trade imbalances.
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