Reference Message Network reported on April 5 that the German "Der Spiegel" website published an article titled "Trump's Obsession with Tariffs is Very Dangerous - Also Dangerous for Himself" on April 2. The author is Roland Nelles. The following is a translation of the article:
US President Trump wants to overturn global trade rules with new tariffs. To this end, he not only risks a global trade war but also risks his own political failure.
Trump has placed a huge bet: He firmly believes that in the long run, the new tariffs will bring more benefits than harm to the United States. But as often happens with high-stakes bets, Trump's obsession with tariffs may cause chaos in the US economy and the global economy, leaving behind a bleak legacy.
The main problem with Trump's tariff policy lies in its inherent contradictions and conflicting goals.
Contradiction One: Through tariffs, Trump promises to increase national revenue by $60 billion annually while forcing large manufacturing groups to relocate production to the United States. The question is, if demand for foreign goods decreases due to high prices, where will the substantial tariff revenue come from in the long term? In other words, if all goods are produced in the United States and no one needs to pay tariffs, how can there be any talk of tariff revenue?
Contradiction Two: It is unclear where Trump's promised large number of new jobs will come from. Many manufacturing jobs have already been lost in the United States, not only because production has moved abroad but also due to automation. These jobs will not return.
Contradiction Three: As is well known, Trump lacks long-term planning ability, and he repeatedly hints at a willingness to negotiate tariffs with other countries. This so-called willingness to compromise brings many problems: Which tariffs will take effect, and which won't? Long-term or short-term? Specifically depending on Trump's mood?
In the end, American voters will decide whether they like Trump's tariff policy and its impact. In less than two years, the midterm elections will be held. If the Democrats regain control of Congress, they can block nearly all of the president's political agenda in a short time. (Translated by Zhong Siyi)
Original source: https://www.toutiao.com/article/7489707548400943631/
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