My Take | Beijing faces short-term pain but long-term gains from Trump
By threatening trade wars and more with allies and adversaries alike, the US will end up alone in so-called international rules-based liberal order
The trade news headlines these days are more thrilling than Disney’s Marvel superhero films as Tariff Man has let loose his awesome superpowers.
Just weeks into his presidency, Donald Trump has scored easy wins by threatening countries with high tariffs and publicly belittling a few of their leaders, some supposedly allies.
Unfortunately, he is likely to end up costing you and me – Americans and foreigners alike – a lot more than sky-high movie ticket prices. Inflation and job losses, or worse, anyone? History is packed full of egotistical leaders getting their way at first, until fate strikes back at hubris with a vengeance.
Trump and his cheerleaders should enjoy it while it lasts. The real question is: how far down the drain will the rest of the world eventually have to go with them?
Last week, Colombia caved in after just one day and agreed to accept deportees from the United States as part of Trump’s mass deportation campaign after being threatened with a 25 per cent tariff.
Panama is considering cancelling its port deal with Hong Kong’s Hutchison Ports, a subsidiary of CK Hutchison, as a concession to Trump’s threat to take back the Panama Canal and his warning about China’s influence over the vital waterway for international trade.