In this special discussion, professor of economics Dr. Yan Liang, decodes the wishful thinking and absurdities behind the rational of the latest declaration of tariffs by President Donald Trump against practically the whole planet. Dr. Yan is Kremer Chair Professor of Economics at Willamette University, Oregon, USA. She is also Non-resident Senior Fellow at Center for Global Development Policy at Boston University.
The Key points are that the Tarriffs are based on wishful calculations by Trump’s advisors to generate enough money to offset the massive tax breaks he promised. Second, manufacturing will not return to the U.S., because it does not have a holistic industrial development strategy and lacks the infrastructure and skilled labour to manage it. Further more, China and the EU have alternatives to the U.S. markets and products. The U.S. does not.