There is one big problem at the heart of President Trump's trade policy. He just doesn't understand the issue. Trump doesn't grasp why we trade, its benefits and how the world has moved ever further from his 18th-century mercantilist view of the global economy.
Instead of comprehending that trade - importing as well as exporting - is the way we benefit from the relative expertise of others, he seems to see trade as just a series of transactions entered into a ledger, with the goal of coming out in the black every time.
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