Raging tariff war ‘disastrous’ for US economy, but nothing can be done – expert to Boom Bust

With over two thirds of goods coming from China now subject to increased US import duties, Americans are calling for the tariff war between Beijing and Washington to stop, but an expert tells RT’s Boom Bust the pleas are futile.

“[The tariff increase] is a disaster for the US economy. But this is what [US President Donald] Trump promised 3-4 years ago, so it should not come as a surprise,” Jeffrey Tucker from the American Institute for Economic Research says.

He notes that despite the fact that the trade war may be heading to the courts, with China claiming US tariffs are unlawful, Trump would disregard even the pleas of his own people to push through his “protectionist” tariff plan.

“Trump is acting according to his own ideological convictions which is very bad for America as a nation – American consumers and businesses are the ones paying the price.”

“What is interesting [is] that distinct from the past rounds of protectionism in American history, the American producer and merchant this time does not support [the tariffs]. Everybody from the fisheries to the farmers, to energy, to retailers is begging for the tariff war to stop,” Tucker says, adding that the US administration, however, remains deaf to these calls because “Trump holds all the power.”

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