We’re working toward repairing two big Trump disasters this week. The House Democrats are restoring NAFTA, which Trump needlessly tore up two years ago. Trade with Canada and Mexico will proceed mostly like it did before. “…[T]he new USMCA is really 90 percent NAFTA,” says analysy Christopher Wilson.
And while we’ve heard this song before, the White House is saying we’re about to get a deal with China, in which we postpone Sunday’s planned tariffs and roll back some existing tariffs in return for Chinese promises.
Funny: in Popeye, “Wimpy” was the one getting the hamburger. But in Trumpistan, we’re the ones giving up the beef today for promise of glad payment on Tuesday.
Former Mexican ambassador to China Jorge Guajardo more aptly summarizes our slink back to status quo ante:
“China Phase-1 deal is the equivalent of a gunman, who had taken hostages, surrendering to authorities, with no one killed, but his manifesto never published,” Jorge Guajardo, the former Mexican ambassador to China, tweeted. “No harm done to anyone, back to normalcy, madman contained, but the shopping mall lost a lot a customers during standoff” [Anna Swenson, Alan Rappeport, and Keith Bradsher, “U.S. Settles on Outline of Elusive China Trade Deal,” New York Times, updated 2019.12.13].
Meanwhile, economic growth remains historically mellow (calm? anemic?), mellowing out from the Herculean efforts required to get us out of the recession, with no bursts of strength and no major dips under Trump like those seen in the good old days when America was great:
Restoring trade to the way it was before Trump’s tantrums is welcome relief. Now if we could just remove Trump and return to more stable politics….