True. Trump is irrationally obsessed with bilateral trade balances. It seems his whole formula for tariff rates was based on bilateral trade balances. Trump is essentially a mercantilist - a school of economic thought that was discredited nearly three centuries ago.
True. Trump is irrationally obsessed with bilateral trade balances. It seems his whole formula for tariff rates was based on bilateral trade balances. Trump is essentially a mercantilist - a school of economic thought that was discredited nearly three centuries ago.
True. Trump is irrationally obsessed with bilateral trade balances. It seems his whole formula for tariff rates was based on bilateral trade balances. Trump is essentially a mercantilist - a school of economic thought that was discredited nearly three centuries ago.
Interesting
Mercantilist Policies:
Encouraging Exports: Governments would subsidize industries to produce goods for export, and they would also seek to find new markets for their goods.
Discouraging Imports: Governments would impose tariffs (taxes on imported goods) to make foreign goods more expensive and protect domestic industries.
Establishing Colonies: Colonies were seen as a source of raw materials and a market for manufactured goods, further contributing to the nation's wea