Posted on 07/29/2025 10:19:22 AM PDT by E. Pluribus Unum
The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.
Over the last six months, the United States has left behind the global trade order that persisted for decades in favor of something drastically different and largely untested.
Formidable economies like the European Union and Japan have abruptly made peace with higher tariffs on their exports, acquiescing to President Trump’s demands in order to avoid damaging trade wars and to coax even steeper U.S. duties down just a little bit.
As major economies fall in line to sign agreements that include the highest tariffs in modern history, the president’s vision for global trade is rapidly being realized. That new normal uses America’s economy as leverage, with other countries accepting tariffs of 15 to 20 percent to do business with the United States. Even higher rates will be imposed on exports of critical products, like steel, or on certain adversarial countries, like China.
The outcome has seemingly proved Mr. Trump right that his tariff threats are a powerful bargaining tool. And the muted market reaction to 15 percent tariffs on Japan and the European Union suggests that the panic many expected from his earlier, more extreme levies may not materialize.
Nigel Green, the chief executive of deVere Group, a global financial advisory, called the E.U. deal “a reset, not a resolution.”
“A year ago, markets would have recoiled,” he said. “Today, they’re simply grateful it wasn’t worse.”
While the president’s plan for global trade now looks like a political victory, whether it will be an economic success remains much more debatable. The Trump administration has essentially embarked on a vast economic experiment, with tariff levels not seen in the United States since the early 20th century.
(Excerpt) Read more at nytimes.com ...
At least until he leaves, trillions of dollars in extra revenue.
BUT
This is as close as we are going to get to the NYT saying Trump was right and we were wrong. There is always going to be a "but" or a "remains to be seen" in any article where they have to grudgingly admit that a Republican is right.
The Slimes is known for the excellence of its staff in the area of Ecomomics....
“But?”
In the old days this used to be called a combination of eating crow and sour grapes. Hope it tastes like vinegar.
wy69
Professional panty wadders are wadded.
Surely these "expert" economists would understand that. /s
Translation: the global trade order of reconstruction after WWII that is now obsolete.
-PJ
“Economists.”
How many “economists” have ever ran a billion dollar company, let alone have a job.
It’s like listening to a man tell woman what a real woman is.
“””Formidable economies like the European Union””””
I believe it would be more correct if NYT had stated ONCE Formidable economies like the European Union.
Western Europe countries have created a monster with their socialist ideals and rampant immigration. Once great companies produced great products. Now many of those products are made in China and are no longer great products.
Where’s Krugman been? He was the biggest doom-sayer that has been wrong about EVERYTHING Trump.
The New York Times, skilled at finding negatives in positive news. All the negativity that’s fit to print.
That’s as close to a pro-Trump article that the NYT will EVER publish. It must have been a real PITA for Ana Swanson to write that piece.
Oh for truck sakes:
Two seconds ago: “There is no way Trump can win this trade war, it means ruination, inflation through the roof, all is lost, the market is toast, all is lost, distress.”
Now: “ The President is winning the trade war, BUT .doom, despair and destruction anyway. Now let’s get back to talking about Epstein. That is, until they spill what Maxwell spilled and our favorite democrats are implicated in which case we will move on to “We Have Trump Now” v.600”
The words New York Times and analysis don’t spark this partisan’s interest. It is their way of telling the reader this will not be actual fake news we usually do with the pretense of facts but complete bullshit provided by Democrat political operatives with no facts having a seat at the table.
The fundamental problem is people refuse to do their own numbers.
and if you want to unconfuse the cnn/msnbc/abc viewer masses, remind them that the whole point is “Fairness”. Americans react bitterly to being forced into an unfair position, and the tariffs correct unfair conditions that have caused our economy and jobs billions.
You won’t hear that written in NYT, WSJ, WAPO - Trump: Making international trade fair for all sides, not being a sucker anymore.
It really sad that only Team Trump sees how desperately needed is this reset. It shows how intellectually crippled so many of “World Leaders” and the global economic “intellectuals” actually are that they do not see it.
“the global trade order that persisted for decades”
And which was OK for the first 10 years or so to help Europe recover from the WWII. Then we got screwed for 70 years until Trump put a stop to it. Now we will reap the benefits we’ve missed out on for 60 years.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.