The article critiques Donald Trump's protectionist trade policies, arguing that his obsession with tariffs is harming American citizens. Trump's actions are presented as a fulfillment of a long-held belief that the US has been exploited in global trade.
Trump's plan involves balancing trade deficits and reviving American industry, a core tenet of his 'Make America Great Again' campaign. While some economists support his protectionist stance, the article highlights the potential negative effects of a trade war, particularly the risk of inflation and recession. The author argues that Trump's approach lacks political pragmatism due to potential voter backlash.
The article notes that while voters might be more loyal in the polarized American political climate, Trump's overestimation of his political capital is a significant risk. Even if his experiment succeeds, the industrial renaissance would be a lengthy process. The author emphasizes that most Americans lack financial reserves to withstand the potential economic hardship from this policy, ultimately highlighting the disproportionate burden placed on the American people.