US President Donald Trump's decision to impose tariffs on imported goods is a boon for China, as the tariffs undermine Washington's position on the world stage, The Wall Street Journal writes in an editorial.
“It would be a mistake to think that the tariffs have only harmed domestic politics. Attacks on friends and foes have undermined the world's confidence in the reliability of the United States, the authors of the article are convinced. - China is already taking advantage of this and “courting“ US allies as a more reliable giant market. Trump's tariffs on allies are a real gift to Xi Jinping.“
The publication warns that it will not be easy to conclude new trade agreements and the consequences of the introduction of tariffs threaten to “ruin Trump's second presidential term“. “Second terms are rarely successful and judging by Donald Trump's first 100 days, this will be no different. The president must make a serious reboot if he wants to save his final years as head of state from the economic and foreign policy turmoil that he himself provoked“, the article notes.“
“He was elected to control inflation and achieve growth in real incomes of the population, but the tariffs are doing the opposite. They are the biggest shock to economic policy since 1971. then-President Richard Nixon caused inflation by banning the convertibility of the dollar into gold, the newspaper recalls