By Marshall Auerback / <a href="independentmediainstitute.org/">Independent Media Institute</a>
Source: Read full article at Truthdig
President Trump has delayed the new tariffs he threatened to impose on Chinese imports in the early fall, and exempted some other Chinese imports altogether. The de-escalation of the Sino-U.S. trade war is especially welcome, given the markets’ renewed concerns about impending recession. Also striking was the president’s tacit acknowledgment that the tariffs threatened to harm the American consumer (which is probably the closest approximation we’ll ever get to an actual admission of error on his part).
The truth is that we’ve had more than enough time under this “stable genius” to realize that there is no long-term strategic coherence to his trade policies, let alone signs of any “art of the deal.” Rather, the Trump presidency has been characterized by arbitrary goals and capricious tariff announcements that appear to be crafted with a view to securing plaudits on “Fox and Friends.”
Unfortunately, “moderate” Democrats have not been much better on trade. Figures like former Vice President Biden continue to dismiss the competitive threat posed by China’s trade practices, and harken back to supposedly halcyon days of lobbyist-written…