Ben Sasse, the junior Senator from Nebraska, was interviewed this morning.
He said a variety of things that one might interpret to be 180 degrees off of what donnie keeps saying about trade.
My summary of what Senator Sasse said is that donnie doesn’t understand trade because he thinks it’s just like real estate which is a transactional business.
As a follow on he pointed out that trade is a matrix of transactions, relationships and business types: business types like “stuff” (Ben’s term for manufactured goods) “services” the export in which America dominates the world, and FDI, direct foreign investment in entities of another country (a category of investment in which America has few peers.)
Senator Sasse pointed out that from this viewpoint our trade relationship with – oh say Mexico, just for example – is quite healthy.
Trade with Mexico is much more sophisticated than building hotels in Russia.
And our trade relationship with Mexico, like that with the rest of the world is quite positive.
America is prospering from that matrix that is World Trade.
donnie is too ill informed, ignorant and self impressed to even want to know about that “fact” (problem there) let alone actually know anything about it.
He’s a self proclaimed genius, so he doesn’t need to know anything.
Too bad for America.
As he thrashes about on tariffs, with no checks from the legislature (who actually own the Article I Constitutional right to impose tariffs) causing untold economic damage, a lot of little people are getting hurt.
A lot of big agribusiness corporations are probably being hurt also, but donnie and his congressional lackeys have already taken care of them by freeing them up from that “little people” thing of paying taxes.
So donnie has decided to give 12 billion dollars to the farmers.
I guess that is supposed to be the little farmers.
Not the giant agribusinesses.
I guess we will see.
Ben said this morning that that will barely cover the losses to the bean farmers in his home state.
At least I think I heard him say that.