The following article by Glenn Kessler was posted on the Washington Post website June 12, 2018:
“Fair Trade is now to be called Fool Trade if it is not Reciprocal. According to a Canada release, they make almost 100 Billion Dollars in Trade with U.S. (guess they were bragging and got caught!). Minimum is 17B. Tax Dairy from us at 270%. Then Justin acts hurt when called out!”
— President Trump, in a tweet, June 10, 2018
After more than 500 days in office, President Trump continues to demonstrate little understanding of the basics of trade and economics. He focuses on trade deficits, falsely claiming that the United States is “losing,” when virtually every mainstream economist would argue it is far more important to focus on overall trade and investment between nations. If overall trade increases between nations, people in each country generally gain, no matter the size of the trade deficit. (There are some exceptions.) Continue reading “Trump’s false assertion that Canada claims to ‘make’ $100 billion in trade with the U.S.”