One of the scariest aspects of the current national nightmare that is Donald Trump is that for as much of a dystopian hellscape as his presidency has turned out to be, we’re periodically reminded that if he got his way, it would be even worse. Over the past two and a half years we’ve learned that he had to be convinced not to invade Venezuela, or nuke hurricanes, or escalate tensions with Syria by assassinating Bashar al-Assad, or scrap a trade deal with South Korea, the latter of which was avoided when then-National Economic Council director Gary Cohn reportedlyswiped a letter from the president’s desk that Trump didn’t even realize had gone missing. According to a new report, the president also wanted to shiv the U.S. economy in a characteristically self-defeating attempt to get back at China—a move that was only prevented by a chorus of staffers and CEOs begging him not to go through with it.
CNBC reports that after China retaliated with $75 billion worth of tariffs last month, the president was so angry—and apparently surprised, despite the fact that China has responded this way every time he’s ratcheted up the trade war—that he wanted to double existing tariffs on Chinese goods. That such a move would have hit the economy even harder than the trade dispute already has, and undoubtedly send the stock market into free fall, apparently did not cross his mind, even though people have tried to sit him down and explain it to him many times. Unable to talk him off the ledge on their own, Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer apparently enlisted multiple CEOs to call the president and get it through his seemingly impenetrable skull that the impact of such an action would be, in his own words “not good!” Instead, Trump simply chose to unleash a series of belligerent tweets about how he “hereby ordered” U.S. companies to cease doing business with China “immediately,” sending the Dow plummeting, which he later joked about. (He also settled for a 5% hike in tariffs on $550 billion in Chinese products.)
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Article URL : https://www.vanityfair.com/news/2019/09/donald-trump-china-double-tariffs