What is the Trump tariff economy?

Q:  What would really happen to the U.S. economy if we tried to make foreign exporters pay tariffs to trade with us?

A: 

Trump is doing what the US needs to do. With $38 trillion in debt, the US has to have inflation. That’s the basis of economics. The government printing money will cause inflation one way or another. When the US was open to the world market, it accumulated debt. So the open economy is not sustainable for the US. By imposing tariffs on every country, Trump has enabled the government to generate more revenue through tariffs, which makes consumers pay more to buy goods. It is a glorious way to have Americans to pay government debt. The US is a democratic country. The government is of the people. The people have to pay the government debt.

But what Trump should not do is to cut taxes. The poor have no income and pay no tax. So the cutting of taxes is in favor of the rich. Now the poor have to pay a higher cost for their living because of the inflation caused by the tariffs. Cutting taxes and putting tariffs are helping the rich to rip off the poor. What we witness is the turning point of the world order. The world order, the so-called rule-based order, is used to let the developed countries exploit the developing countries, through their monopoly of technology that brings them surplus profit. Now, China is climbing up the value chain. China breaks the monopoly of the West. We experience the phenomenon of cheaper made-in-China goods replacing the costly Western goods. China sells competitive goods, while the developed countries sell goods at monopoly prices. Yet, capital has to make a profit. If capital loses its capability to exploit the global south, it exploits its domestic citizens. That’s why we see more billionaires. We observe that all developed countries accumulate debt and have inflation. That’s the symptom of capital exploiting domestic consumers. When developed countries lose their capability to exploit the global south, they exploit their own citizens. Trump’s tariffs and tax cuts are doing exactly that.

Do we see the prosperity of the stock market that makes more billionaires, the diminished middle class, and the increasing homelessness? That’s capitalism. The rich get richer, and the poor get poorer. That’s what happened to the US economy. Do you know how much Musk’s pay package is worth? $1 Trillion. We witness the craziness of capitalism. This is a good economy for the rich and a bad economy for the poor.