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This. Talking about “winners” and “losers” in a trade war is just mercantilist logic. There are no winners in a trade war. There are only higher prices, lower profits, fewer jobs, less productivity and more corrupt rent-seeking.
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Belatedly sharing my @ftopinion piece, "Trump’s tariffs leave us in the second worst of all worlds"
My argument: criticizing countries for making deals reflects the same misguided mercantilist logic that led Trump to his tariffs. And the US is still one of the bigger losers.
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