American Consumers Are Paying the Price of Trump's Ego

On the 7th of September 2018, The New York Times published an article by Alan Rappeport titled Trump Threatens Tariffs on All Imports From China, Escalating Trade Feud. Alan Rappeport is an economic policy reporter for The New York Times in Washington. He played a significant role in reporting the 2016 presidential election for many outlets, but currently covers news regarding taxes, trade, and fiscal matters for The New York Times. This article is important because it holds the most recent updates into Trump's ongoing trade wars with China, Canada, and the European Union, which will significantly affect American consumers and the U.S. trade deficit.

Trump previously stated that reducing the U.S. trade deficit is one of his chief economic goals, which is ironic considering how much his antics have worsened it. The deficit is currently widening at its fastest rate since 2015, and economic growth has been damaged not only in the United States but around the world as well, primarily amongst the main trade partners of America: China, Europe, and Canada.

Robert E. Lighthizer, Trump's top trade negotiator, stated that he was concerned that the United States would take the hardest hit from the new tariffs. Regardless, Trump repeatedly disregards the repercussions and threatens to impose more taxes on exports to China. Trump claims that he's "being strong on China," but it is apparent that he is instead being reckless and foolish.