Anne Krueger, “Trump’s Protectionist Quagmire”
This (very factual) article should be read against the background of increased evidence that China might be winning the trade war with the US. The US President’s tariffs on imported steel are a perfect example of how protectionism raises costs for consumers and producers, destroys jobs, and undermines domestic competitiveness. In short: the deficit reflects the difference between domestic savings and investment; so tariffs will neither reduce the US current-account deficit nor create more net jobs (reads in 6-8 min).

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