In this headline analogy, Trump of course is a modern-day Goliath. Through his tariff plan and his efforts to bring peace to a troubled world (to say nothing of annexing Greenland and the Panama Canal), our 47th President, love him or hate him, sits atop the political and economic world like no president since maybe Theodore Roosevelt.
The result is twofold if you’re running a foreign nation — seek agreement with the new Goliath, or try to topple him.
Good luck on both fronts. The man knows what he wants, but the problem is — how big a price must the rest of us pay?
As for countries playing the David card, Canada and the European Untion (EU), admittedly not just one country, seem to have donned the robe. China has too, but China is hardly a David but perhaps a Goliah Jr., or a Goliah in its own right.
The Wall Street Journal opines:
“The open question is whether his [Trump’s] disruption is helping him achieve his ambitions to end foreign wars, slash government and strip liberals of their power in American culture, or whether he has engendered a pushback that will undermine his plans.”
On the domestic front, a 25-percent tariff on foreign-made cars and car parts could make traveling the nation’s highways and byways, or even getting to and from work, more expensive. Even if you buy a U.S.-made car, many of its parts could be foreign born, thus raising prices despite domestic production, to say nothing of rraising the cost of epairing already-owned vehicles. Like clothes? Most of our apparel comes from factories in Vietnam, upon whom Trump has just placed a 46-percent tariff.
It has been reported that some 50 nations have already frantically called the White House to cut a deal, but Senior Trade Advisor Peter Navarro said no negotiations are on the table, according to an interview he made on television. Elon Musk lashed back — he who owns factories in China — calling Navarro a bunch of expletives.
I personally believe that Trump is right — provided he does negotiate — in trying to equalize trade agreements after decades of a “Free Trade” facade, which basically saw only the U.S. subscribing to freedom on trade on its borders. But what do I matter? Trump won’t be up for re-election.
Or better stated, what does my pocketbook tell me? On that front, I’m a bit worried. I already lost thousands in my IRA (Individual Retirement Account), and I didn’t have that much to begin with. I imagine there are many more like me.