The differences between Trump Tariff War 1.0 and 2.0 are that last time was just about fair trade. This time is about finishing what last time never finished with China, the war that was supposed to be so easy but wasn’t. This time Trump has also made it about imperial expansion, which is causing nation’s to plant their feet. This time, the tariffs look like they’ll be broader and already promise retaliation everywhere. This time we’re picking fights with nations that thought they already resolved all of this in Trump Tariff War 1.0, so they have no reason to negotiate with us again since those agreements didn’t hold up well. This time we’ll be fighting Europe full force at the same time as we fight Canada and China and perhaps Mexico and all of the rest of the world, making us the world’s solitary enemy and all of them ours! And this time we’re taking on the world in a trade war as we withdraw most of our decades of free gifts, making them less likely to hold back in tariff retaliation. This time Trump has also said many times over this is about creating a new permanent tax system as America’s source of revenue, which means he cannot remove the tariffs if he is actually going to make that happen. And, most of all, this time the tariffs are happening after inflation has already become a major problem. Last time, inflation had not been a problem for decades. This time, inflation is already glowing so hot it will burst into flames the second it gets some new oxygen.
https://www.thedailydoom.com/p/the-trump-tariff-wars-are-about-to