Opinion: How much pain is Trump going to inflict on those who elected him?
The Cosco Spain container ship, operated by Cosco Shipping Holdings Co., sails near the Yangshan Deepwater Port in Shanghai on May 10. By Jennifer Rubin Jennifer Rubin Opinion writer covering politics and policy, foreign and domestic Email Bio Follow Opinion writer May 13 at 11:15 AM In an interview Sunday on CBS’s “Face the Nation,” former treasury secretary Hank Paulson was asked about the latest round in the tariff war that Trump has embarked upon with China.
Democratic presidential candidate and Sen. Michael F. Bennet made the same point as Paulson earlier on the program, explaining, “What I would do differently is mobilize the world against China’s mercantilist trading policies, which the president is right to point out have been unfair.
When Trump says we’re getting wealthier from all those tariffs, he means the government is getting more revenue from Americans. Trump is either willfully ignorant or simply unwilling to recognize the extreme hardship he is inflicting on many Americans, especially in deep-red farm states. However, we’re in the middle of this and the president is playing ... a negotiating battle with the Chinese, and I think he feels that at this point they can’t really back out. I think there are ways the Chinese market could open up and that would be good, but I still have advised the administration, get this done, because the longer we’re involved in a tariff battle or a trade war, the better chance there is that we could actually enter into a recession because of it.
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