Bung import tariffs on US imports, page-13

Mate , just for you.

Economic fear for all amid Donald Trump’s loathing for deficits​

But the financial pain will spread across the globe and Australia is right in the firing line. Hurt the Chinese economy and you directly hurt the WA economy, dependent as it is on China’s demand for our key exports such as iron ore.
KPMG Australia estimates a full trade war would slash Australian household income by close to $500 billion over a decade.
That is a huge cut in spending power for ordinary Australians just because Trump needs to “win” an unwinnable trade war.
Trump’s infantile fascination with tariffs to “protect” small parts of America, while throwing everyone else under the economic bus, is par for the course.
Ever since he ran for president, his mercantilism tendencies — the belief that a country needs to run a trade surplus at all costs — have been on full display.
If only he could come to grips with the fact the US relies on huge inflows of capital for the economy to properly function.
The world has recently marked the 10th anniversary of the collapse of Lehman Brothers and the economic calamity it unleashed with the global financial crisis.
It would have been worse if not for the way Chinese authorities agreed to pleas from the US not to sell their ample holdings of US debt.
Put that debt on the market now and US interest rates would soar, souring the economy while leading to lower house prices and higher unemployment.

That’s something that should engender fear even in the US President.​

https://thewest.com.au/business/tra...-loathing-for-deficits-ng-b88964135z[/BCOLOR]​

Raider​

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