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On the campaign trail in 2016, Hillary Clinton warned that a Trump presidency would lead to trade wars, saying: “We went down that road in the 1930s.
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Paired with an earlier round of US tariffs on Canadian and European steel — and Canadian and European countertariffs on American goods — it’s clear that the United States is now embroiled in a multi-front trade war.
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Indeed, according to an official statement from the Chinese Ministry of Commerce, Trump has just “launched the biggest trade war in economic history so far.” This kind of bold rhetoric has generated dramatic press coverage, with Ana Swanson of The New York Times writing that “escalation of the trade war from threat to reality is expected to ripple through global supply chains, raise costs for businesses and consumers and roil global stock markets.” Big business and some congressional Republicans are pushing back on Trump, while die-hard Trump haters are enjoying stories about places like Poplar Bluff, Missouri — a town that voted overwhelmingly for Trump but that is also home to a nail factory that his new taxes on imported metal will likely put out of business.
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