What Happens When There Are No Deals? – Paul Krugman

a year ago

Trump's tariff policies are based on the claim that other countries treat America unfairly, but this is largely a fantasy as most countries are not treating the U.S. unfairly.
Trade negotiations are not going well, with no deals announced despite Trump's claims of having made hundreds of deals.
China has ridiculed Trump's claims of ongoing negotiations, and Japanese trade negotiators have left due to lack of clarity from the U.S.
Trump's trade dominance fantasy is becoming unsustainable, and his popularity is declining on multiple fronts, including the economy and immigration.
The early decline in Trump's influence is seen as positive for U.S. democracy, reducing the likelihood of one-party rule consolidation.
The U.S. lacks a quick mechanism to remove an unpopular leader, making impeachment unlikely due to the current political climate.
The focus shifts to minimizing the damage Trump can do in the remaining days of his administration and how to counteract his policies.

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