برچسب: Trust

Thomas L. Friedman is the foreign affairs opinion writer for The New York Times. In this post, he excoriates Trump for his arrogance and stupidity in handling the tariffs issue, and especially for his arrogance and stupidity in dealing with China. First, he insisted that he would “hang tough” on his plan to impose draconian tariffs. When the stock and bond markets crashed, he decided to put a 90-day pause on tariffs, exempting China.

He has alienated our allies and outraged China. His arrogance has isolated us in the world as a faithless bully. It seems that Trump’s “art of the deal” consists of bullying, threatening, insulting, and humiliating the other party. It doesn’t work in the international stage. Trump dissipated long-standing alliances and has made us look foolish in the eyes of the world. In less than three months, he has squandered good will, scorned close relationships, and thrown away our reputation as “leader of the free world.” The emperor has no clothes. He stands naked before the world as a stupid and reckless man.

It’s important to remember that Trump was never a successful businessman. He went bankrupt six times. No American bank would extend loans to him because of his abysmal record. Yet his MAGA cult believes in his business acumen because he played a successful businessman on TV. He is a performer who knows nothing about foreign trade, economics, or history.

How will we survive four years of Trump’s demented whims?

Friedman wrote:

I have many reactions to President Trump’s largely caving on his harebrained plan to tariff the world, but overall, one reaction just keeps coming back to me: If you hire clowns, you should expect a circus. And my fellow Americans, we have hired a group of clowns.

Think of what Trump; his chief knucklehead, Howard Lutnick (the commerce secretary); his assistant chief knucklehead, Scott Bessent (the Treasury secretary); and his deputy assistant chief knucklehead, Peter Navarro (the top trade adviser), have told us repeatedly for the past weeks: Trump won’t back off on these tariffs because — take your choice — he needs them to keep fentanyl from killing our kids, he needs them to raise revenue to pay for future tax cuts, and he needs them to pressure the world to buy more stuff from us. And he couldn’t care less what his rich pals on Wall Street say about their stock market losses.

After creating havoc in the markets standing on these steadfast “principles” — undoubtedly prompting many Americans to sell low out of fear — Trump reversed much of it on Wednesday, announcing a 90-day pause on certain tariffs to most countries, excluding China.

Message to the world — and to the Chinese: “I couldn’t take the heat.” If it were a book it would be called “The Art of the Squeal.”

But don’t think for a second that all that’s been lost is money. A whole pile of invaluable trust just went up in smoke as well. In the last few weeks, we have told our closest friends in the world — countries that stood shoulder to shoulder with us after Sept. 11, in Iraq and in Afghanistan — that none of them were any different from China or Russia. They were all going to get tariffed under the same formula — no friends-and-family discounts allowed.

Do you think these former close U.S. allies are ever going to trust getting into a trench with this administration again?

This was the trade equivalent of the Biden administration’s botched exit from Afghanistan, from which it never quite recovered. But at least Joe Biden got us out of a costly no-win war for which America, in my opinion, is now much better off.

Trump just put us into a no-win war.

How so? We do have a trade imbalance with China that does need to be addressed. Trump is right about that. China now controls one-third of global manufacturing and has the industrial engines to pretty much make everything for everyone one day if it is allowed to. That is not good for us, for Europe or for many developing countries. It is not even good for China, given the fact that by putting so many resources into export industries it is ignoring the meager social safety net it offers its people and its even more threadbare public health care system.

But when you have a country as big as China — 1.4 billion people — with the talent, infrastructure and savings it has, the only way to negotiate is with leverage on our side of the table. And the best way to get leverage would have been for Trump to enlist our allies in the European Union, Japan, South Korea, Singapore, Brazil, Vietnam, Canada, Mexico, India, Australia and Indonesia into a united front. Make it a negotiation of the whole world versus China.

Then you say to Beijing: All of us will gradually raise our tariffs on your exports over the next two years to pressure you to shift from your export economy to a more domestic-oriented one. But we will also invite you to build factories and supply chains in our countries — 50-50 joint ventures — to transfer your expertise back to us the way you compelled us to do for you. We don’t want a bifurcated world. It will be less prosperous for all and less stable.

But instead of making it the whole industrial world against China, Trump made it America against the whole industrial world and China.

Now, Beijing knows that Trump not only blinked, but he so alienated our allies, so demonstrated that his word cannot be trusted for a second, that many of them may never align with us against China in the same way. They may, instead, see China as a better, more stable long-term partner than us.

What a pathetic, shameful performance. Happy Liberation Day.