A cowardly congress allows Trump to hit the economy

Donald Trump’s amazing new tariffs have a war against the entire planet. While the President defends, the Republicans lean on the variations of the proverb “short -term pain, long -term earnings”. Republican Senator Tim Shehy syllable The argument in CNN said, “It will definitely be a short -term pain.… If you are going to reshape your home to make it better, when your home is reshaped and everywhere there is gypsum board dust and there are workers in your seating room.”

The problem in Shehy’s metaphor is that Trump’s tariff is a reason to think that both short -term pain and longer periods of pain. In other words, Trump fires the entire neighborhood rather than reshaping the house. It is easy to see short -term pain: stock market fallen It is worth 6 percent, 3.1 trillion dollars. This is the most steep decline since March 2000, when the global economy was rapidly spreading Covid. However, the stock market is only one measure of damage.

What is more disturbing is the possibility that Trump can trigger a global trade war that can lead to a comparable accident with 1929 or 2008. While filed a lawsuit for his policy on Wednesday, Trump It was offered Typically some ridiculous dates, “In 1929, [an era of prosperity] With the Great Depression, it ended very suddenly and if they stayed in the tariff policy, it would be a very different story. ”In fact, after the stock market accident in 1929, the congress enacted the famous Smoot-Hwley tariffs that historians have mentioned as an important factor in a much more global and longer time than typical economic decline. Strongly comparable–Dight, undisputed worse-Smoot-Hawley.

Any criticism against Trump should not be mistaken as a defense of the former neoliberal consensus (one by one of Ronald Reagan to Barack Obama) in favor of globalized free trade. Rightly condemned by the left wings Bernie Sanders is to use the external resources of production, to harm the environment and to promote predatory exploitation of workers in poor countries. However, correcting the old neoliberal order required targeted use of tariffs as part of a careful industrial policy and the creation of new agreements to protect business and environmental rights. What Trump adopts is a sledgehammer approach that applies a formula that fits a single body to almost every country, which is the trade deficit of the United States.

In addition, Trump’s trade war creates an additional uncertainty of the president’s deliberate chaotic government. Trump’s advisors offer two mutual contradictory explanations of why tariffs are needed. Treasury Secretary Scott Bessent Talking about tariffs as a bargain chip To re -balance trade relations. His argument is that the United States climbed to increase, not a reassuring theory because of this approach. He also forced foreign policy Biden and Trump administrations allowing the conflict to spread to the Middle East. Moreover, things cannot be sure how long the tariffs will last or how severe they will be. The reason for the bargaining chip requires certainty, as the investment requires certainty, it also weakens the goal of bringing production to the USA.

However, leaving the essence of the theory aside, Bessent’s view has been in contradiction with Trump Advisor Stephen Miller for a long time, ultra nationalist He clearly wants the United States Being parking. Miller’s goal is to climb to continue to climb.

Trump’s economic madness is getting worse with a widespread feature of his second period: the surrender of economic and political elite. Wall Street was Blind by trade war. Trump’s very high protectionist discourse clearly awaited the first period of Trump, where he, with much more restricted policies that re -processed existing trade agreements. However, many people in business elite are not satisfied with the fact that Trump is now carrying out a wild trade war, but they are very afraid to speak. Political allies, such as Trump and Elon Musk, are not afraid of revealing a propaganda war against any corporate leader who speaks publicly against Trump. Wall Street makes you feel discontent with the anonymous mechanism of reducing stock prices.

However, the most relevant corporate delivery to Trump is in the Congress. Here again, the fear factor is very important especially among Republicans. However, in addition to political cowardly, the task was a constitutional injustice. In accordance with the Constitution, the congress has the power to upgrade and reduce tariffs. In recent years, the congress has transferred this power to the President. However, like the similar delegation of the power of war, this strengthening of the Presidency is not deeply democratic. The principle underlying this ruling committee should be allowed to determine the tariffs in an emergency in an emergency, which is a loose rule that will have the power to give unlimited tariffs. The President has the power to change politics as he wishes without democratic responsibility for establishing a coalition. In addition, if the president is as Doddery as Trump and hesitant, the stability required by international trade underwater.

The injustice of the task by the Congress is bilatered. Last month, Senate Minority leader Chuck Schumer and nine other democrats He voted for a constant decision This not only exceeded a Republican budget, but also reduced the Congress’s ability to reduce Trump’s arbitrary tariff -setting power.