New Brunswick, N.J. (August 2, 2019) – Thomas Prusa, a Rutgers University–New Brunswick expert on international trade and economics, is available for commentary on President Trump’s statement that the U.S. would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports next month.
Prusa said, “President Trump’s decision to expand the Chinese products on which he will impose tariffs shows how naive and unimaginative he and his advisors are. At the outset there was no doubt his tariff policies would hurt the U.S. by imposing higher costs and reducing product choice. The failure of his trade policies confirms the most basic lessons taught in any undergraduate trade course. Farmers are the most obvious constituency being hurt, but businesses across the spectrum complain of the damage Trump’s tariffs have done to their operations and bottom lines.
“The only hope for Trump’s tariff policy was that these tariffs would force China to the negotiating table. Yet, China has shown that it won’t be bullied and Chinese leaders have demonstrated far more patience than Trump expected. He was naïve to declare that ‘trade wars are good and easy to win.’ The latest announcement reminds me of a poker player doubling down even though he has a bad hand. Well, China’s not folding and Trump has a terrible poker face.”
For interviews, please contact Tom Prusa at [email protected].
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