Economist Paul Krugman predicted a global recession after President Trump was elected. He was wrong. Most economists predicted a British recession after the Brexit vote. They were wrong. Economists and journalists are now predicting dire economic consequences from Trump’s tariffs on China. In several months, we will see that they are wrong too.
Last Thursday, President Trump told reporters:
"We don't have a trade war. We've lost the trade war because for many years, whether it's Clinton or the Bushes, Obama, all of our presidents before, for some reason it just got worse and worse. And now it's $500 billion in deficits and a theft of $300 billion in intellectual property. So you can't have this.”