Trump wants to “win” international trade, and he is considering renegotiation of finalized deals and taxes (for imports) and subsidies (for exports) to accomplish the feat. Those won’t work. Here is what will.
You have to make America lousy,
again for the first time. Cue the action plan—do them all for the full interactive effect (links are in some cases NSFW):
- American assets are too attractive to foreigners. Require that U.S.-based assets cannot have more than 25% foreign ownership.
- The dollar’s too damn high! We have to make import purchases less desirable and export sales more desirable. Inflation is the tool for the task. Announce and begin immediately paying off all U.S. government liabilities (interest, salaries, and debts) with newly created money. Hey, we just cured the national debt as well.
- Rates of return are too good. Increase taxes especially on savings/investment. Take the current rates, and double them.
- Importing is too easy. Prohibit customs processing for imports on days that begin with the letters “W” or “T” (for “Win Trade”).
- Reduce property rights. The security investors enjoy knowing that American assets are relatively secure in title and protected from theft and abuse is making investment in America too desirable. Start with strong asset forfeiture confiscation and regulation which effects de facto takings.
This is just a start. If we really put our minds to it, we can certainly screw this place up.
P.S., I can’t believe I just linked to Krugman. See what Trump has done to this country!