Commerce Secretary Wilbur Ross has just announced a new 20% tariff on imports of Canadian softwood lumber. Viewed in this light, this move simply looks like yet another attempt to pacify American lumber producers. The USA’s trade deficit arises from the interplay of finance and trade among all the countries in the world. The USA’s trade deficit, like its fiscal deficit, reflects the global hegemony of the USA. But Trump’s trade team doesn’t have even a basic grasp of international trade economics.

Source: Forbes April 25, 2017 04:34 UTC