US President Donald Trump is making bold comparisons between the American and Chinese economies, declaring that China is taking a heavier hit from tariffs than the United States. In his view, the US is thriving while Beijing is struggling, a narrative he is not shy about promoting. A few more tariffs on China, and the trade war continues. However, whether the global economy can withstand the weight of such restrictions seems to be of little concern to the US president.
Trump argues that China, along with most other nations, has treated the United States unfairly for too long. As for his predecessors' economic policies, the Republican leader calls them "foolish and weak." In contrast, he praises his own tariff-driven agenda as an "economic revolution" that has attracted $5 trillion in investment to the US.
Recently, analysts at Handelsblatt reported a "tariff shock" sweeping through global equity markets in response to Trump's latest trade actions. However, the president remains unfazed. He continues to tout his strategy as successful and has no plans to shift course. According to the US leader, "now is the time to become richer than ever."
Not everyone shares his enthusiasm. Countries around the world, and EU leaders in particular, are growing increasingly uneasy. In response to Washington's tariffs and the flood of cheap Chinese goods, the bloc is reportedly preparing emergency measures to counter the economic fallout.
