by Dr. Roy Cordato
Senior Economist, Emeritas
What is being referred to as a “trade war” in the media and by the President is not a trade war at all, but an anti-trade war. If the expression “trade war” has any meaning it refers to the battle among businesses that goes on every day for the hearts, minds, and ultimately dollars of consumers. That is, for the opportunity to make trades with willing partners. The only losers in this war are the businesses that are rejected by consumers. The reality of the “anti-trade war,” which President Trump claims would be easy to win, is that there are no winners. When the government uses coercion, i.e. tariffs, to prevent mutually beneficial exchanges from being made, the results are strictly lose-lose.