Finished reading the book, Fear: Trump in the White House - Hardcover - by Bob Woodward; Trump's policy of tariffs as a way to reduce USA trade deficit with China
Around a month back I had got delivery of the book, Fear: Trump in the White House - Hardcover - by Bob Woodward, https://www.amazon.in/Fear-Trump-White-Bob-Woodward/dp/1471181294. [https://ravisiyermisc.blogspot.com/2018/09/got-delivery-of-book-fear-trump-in.html]
Yesterday night I finished reading the book.
The book covers very sensitive topics. Note that the book's authenticity is strongly disputed by US President Trump and some members of his cabinet. So one does not know, as of now, how truthful the book is.
As the book covers very sensitive topics, I prefer not to publicly comment on the book in general. But I will make one exception without getting into details. And that's about the determination of President Trump to reduce the trade deficit between USA and China, using tariffs as a way to achieve it.
The accounts in the book paint a picture of Mr. Trump being very aggressive in his views on levying tariffs on China so as to reduce the trade deficit. And, perhaps post the publication of the book, USA has levied tariffs against Chinese goods and responded to reciprocal tariffs by China against USA goods, by levying further tariffs against Chinese goods! So, on this topic, the coverage in the book may have largely got it right.
As per this book, the key voices in the top economic policy team that argued against the tariffs and reducing the trade deficit, namely, Gary Cohn, Chief Economic Advisor and Rob Porter, White House Staff Secretary, were viewed as "globalists" by Mr. Trump. Both are no longer in the administration. So most, if not all, of the current economic policy team in the White House seem to be in line with Mr. Trump's approach of levying tariffs as a way to reduce trade deficit with China.
Eventually, perhaps the Trump administration will have a new trade deal with China. This is how it seems to have played out with USA's trade deals with South Korea, Canada and Mexico, where announcements were made of new trade deals by Trump administration with these countries.
A recent article in The Hindu - "China not ready for a deal yet, says Trump", https://www.thehindu.com/news/international/china-not-ready-for-a-deal-yet-says-trump/article25218864.ece, 14th Oct. 2018, gives us the current public view of Mr. Trump on this matter. It quotes Mr. Trump as saying to reporters in the White House, "I told them a week ago -- they want to come in, they want to make a deal -- I said, you’re not ready to make a deal".
Here's a video clip of Mr. Trump saying some of these words/similar words: https://www.youtube.com/watch?v=GCKadVuDgWM, 21 seconds, published by France 24 English on 9th Oct. 2018.
A transcript of the words of Mr. Trump in above video clip:
"Look, China wants to make a deal. And, I say they are not ready yet. I just say they are not ready yet. And we have cancelled a couple of meetings because I just say they are not ready to make a deal. We can't have a one-way street. It's gotta be a two way street. It's been a one-way street for 25 years. We've got to make it a two-way street. We've got to benefit also."
Yesterday night I finished reading the book.
The book covers very sensitive topics. Note that the book's authenticity is strongly disputed by US President Trump and some members of his cabinet. So one does not know, as of now, how truthful the book is.
As the book covers very sensitive topics, I prefer not to publicly comment on the book in general. But I will make one exception without getting into details. And that's about the determination of President Trump to reduce the trade deficit between USA and China, using tariffs as a way to achieve it.
The accounts in the book paint a picture of Mr. Trump being very aggressive in his views on levying tariffs on China so as to reduce the trade deficit. And, perhaps post the publication of the book, USA has levied tariffs against Chinese goods and responded to reciprocal tariffs by China against USA goods, by levying further tariffs against Chinese goods! So, on this topic, the coverage in the book may have largely got it right.
As per this book, the key voices in the top economic policy team that argued against the tariffs and reducing the trade deficit, namely, Gary Cohn, Chief Economic Advisor and Rob Porter, White House Staff Secretary, were viewed as "globalists" by Mr. Trump. Both are no longer in the administration. So most, if not all, of the current economic policy team in the White House seem to be in line with Mr. Trump's approach of levying tariffs as a way to reduce trade deficit with China.
Eventually, perhaps the Trump administration will have a new trade deal with China. This is how it seems to have played out with USA's trade deals with South Korea, Canada and Mexico, where announcements were made of new trade deals by Trump administration with these countries.
A recent article in The Hindu - "China not ready for a deal yet, says Trump", https://www.thehindu.com/news/international/china-not-ready-for-a-deal-yet-says-trump/article25218864.ece, 14th Oct. 2018, gives us the current public view of Mr. Trump on this matter. It quotes Mr. Trump as saying to reporters in the White House, "I told them a week ago -- they want to come in, they want to make a deal -- I said, you’re not ready to make a deal".
Here's a video clip of Mr. Trump saying some of these words/similar words: https://www.youtube.com/watch?v=GCKadVuDgWM, 21 seconds, published by France 24 English on 9th Oct. 2018.
A transcript of the words of Mr. Trump in above video clip:
"Look, China wants to make a deal. And, I say they are not ready yet. I just say they are not ready yet. And we have cancelled a couple of meetings because I just say they are not ready to make a deal. We can't have a one-way street. It's gotta be a two way street. It's been a one-way street for 25 years. We've got to make it a two-way street. We've got to benefit also."
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