Thursday, November 15, 2018

A Double Blow From Trump's Economic Nationalist Policies

President Trump simply doesn't get that the central planning of parts of the economy to help steelworkers is a negative for the entire economy.

He tweets:

Not seen in many years, America’s steelworkers get a hard-earned raise because of my Administration’s policies to help bring back the U.S. steel industry, which is critical to our National Security. I will always protect America and its workers!
By creating an economic environment that prevents the distribution of jobs, goods and services by the free market (including via global trade), Trump is creating an economy that is below peak efficiency.

If it is advantageous to import steel from overseas, it means this is a better option for businesses and individuals than to buy it domestically.

It also means that steelworkers are not freed up to create goods and services in other sectors.

It is a double blow to the economy as a result of Trump's economic nationalist policies.


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