Senate Minority Leader Chuck Schumer dared President Trump to make good on his promise to label China a currency manipulator on day 1. China's actually been manipulating currency in a helpful way to the United States, recently.
1. This argument assumes currency values are set in a freely floating market. This is massively false today. Currency values
It's a tricky ride, and one fraught with political and economic conflict. But it's a necessary one in order for President Trump to keep his promises, rebuild a preeminent U.S. economy, and create good jobs and a higher standard of living for all Americans.
Free trade not only cures cancer but also prevents aging! That should have been the lede of Douglas E. Schoen's Fox News recent op-ed this explaining his boundless, fact-challenged enthusiasm for free trade.
We have Trump offering quite specific policies, and taking extreme heat for them. Hillary Clinton's strategy is, apparently, not to be pinned down. In other words, she has adopted a political strategy, not a substantive one.
It's unclear whether that matters to voters who lost their jobs to Chinese exporters, though.
China makes way, way too much steel. In 2015, it produced nearly 500 million tons more than it needed. Production of that steel was subsidized by the Chinese government in ways that violate international trade rules, so the price was artificially low. And China suppresses the value of its currency, further falsely reducing the cost of the steel.
A rock and a hard place. Scylla and Charybdis. Sanders and Trump. These are just some of the metaphors and men Hillary Clinton finds herself caught between on the trade issue.
The Economic Policy Institute found that currency manipulation is the most important cause of America's massive trade deficits with TPP countries. Trade deficits mean products are shipped to the United States rather than made in the United States. The math is simple.