Trump’s Economic Nationalism. The declaration of ‘trade’ war, June 18th, 2018.

Trump’s Economic Nationalism. The declaration of ‘trade’ war, June 18th, 2018.
(Tibet Times)
The implications of a Trade War with China not only to the US economy but its flow on effects to the global economy. The ideological dilemma for Social Democrats, from the Keynesian school of thought, is whether to Free Trade or to Protect?
The Trump administration had proposed the protectionist agenda and initially imposed a 25% tariff on Chinese imports on June 18, 2018. Recently, this seemingly knee jerk proposal has been reduced to 10%.

The ramifications of the Trump Protectionist stance has been a Asian and European, including Canadian, RETALIATORY response, with a reciprocated proposals from China, and other nations affected by the Trump administration stance on Tariff protections.
Hence, on June, 18, 2018, The date that will be remembered as the Declaration of Trade War by the USA against China....and with other nations whose imports were affecting the US domestic economy.

The world is responding in kind and this may lead to an reciprocated anti-globalisation and a rise of regionalism and economic blocs in a new view to geo-political regional protectionism as a likely legacy of the global rise of Economic Nationalism through Protectionism. Add Trump's Economic Nationalism to the British Brexit into the mix of Protectionism, xenophobia, and the excruciating rise of Nationalism throughout Europe, thanks, in part, to the rise of certain multicultural acts of terrorism from some purportedly religiously motivated and socially marginalised estranged cultural groups, the Nationalists, and the ultra-right, or Alt-Right as they are faddishly coined in the USA, have set the agenda in the Neo-Con politics within the USA and it has become very contagious globally as well.

Soifua.

Tim Tufuga
12th July, 2018
Source:

Roberts, Michael, https://thenextrecession.wordpress.com/2018/07/11/free-trade-or-protectionism-the-keynesian-dilemma/

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