ADVERTISEMENT
Tariff man: An origin story
It was the era of the Sony Walkman and the Panasonic VCR. Japanese electronics reigned, and Toyotas and Hondas filled American streets.
null
It was the era of the Sony Walkman and the Panasonic VCR. Japanese electronics reigned, and Toyotas and Hondas filled American streets. For Trump, the ascendancy struck close to home in 1989 when Japanese buyers, in their latest trophy deal, acquired Rockefeller Center. To combat Japan’s rise, Trump argued that the United States should slap a 20 percent tax on its imports.
Near the end of the 20th century, glimmers of Trump’s presidential dreams began to emerge, with trade at the top of his agenda. In 1999, he announced, on CNN’s “Larry King Live,” that he would consider running for president as a Reform Party candidate. On the show, he said the North American Free Trade Agreement would be a “disaster.” He blamed Japan for subsidizing its car industry and took aim at South Korean shippers.
By 2011, a new villain was emerging in his eyes. China replaced Japan as the second-largest economy, and the trade deficit between the United States and China had widened to nearly $300 billion. He began tweeting about how the U.S. economy was suffering in the face of Chinese competition. Trump, then the host of the “The Apprentice,” saw winners and losers — and the United States was losing.
ADVERTISEMENT
When he went on the campaign trail in 2016, Trump began to gain strength in factory towns around the United States decimated by the flood of cheap Chinese goods.
As he reached the White House, Trump discovered his power, unleashing an economic and geopolitical force. He taxed steel and aluminum imports. He considered going after foreign carmakers. He also took on China, imposing tariffs on $250 billion worth of goods and threatening to target as much as $450 billion — nearly everything China sells to the U.S. Thor had his thunderbolt; Trump had his tariffs. With them, he was ...
Able to change from friend to foe, in the blink of an eye. More powerful in rallying the masses. Capable of rocking markets in a single tweet.
In time, the son of Queens had become the Man of Steel. He wielded tariffs to make China negotiate, with plans to strike a deal within months. But will China change its ways? Will a trade war hurt the United States? Will China’s economy stumble? What does it all mean for the relationship between the countries? Tune in next time ...
This article originally appeared in The New York Times.
ADVERTISEMENT
The New York Times © 2018 The New York Times
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT