In 1988, Donald Trump told Oprah Winfrey that America was being “ripped off” by its trading partners. Nearly 2 million Americans lost their manufacturing jobs between 1979 and 1988 to cheap, government-backed Japanese competitors. Oprah's audience applauded.
Three decades later nothing has changed: America lost 5 million more manufacturing jobs, and Trump is still lambasting our trade partners for ripping us off:
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don't trade anymore-we win big. It's easy!
President Trump is right. Our trading partners—particularly China, Japan, and Mexico—are taking America to the woodshed.
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