Donald Trump is getting worse as time goes by. He seems to lose his marbles on a regular basis. He loves controversy, thrives on it and yet to the astonishment of the world at large, his power, instead of diminishing, appears to gain momentum as the majority of Americans unwittingly approve of his rhetoric and his wayward policies.
Last month he declared a trade war on China by imposing import tariffs of up to 42 billion pounds on 1,300 products. Among the targets were technology firms. Mr Trump claims they have gained an unfair advantage over US rivals. However, imports of steel from the EU were excluded from the list at least for the time being, allaying fears that UK producers would be hit. The aggressive gesture comes after Mr Trump expressed anger at the fact US companies import £265 billion more goods from China than they export.
Everett Eissenstat, of the US National Economic Council, said many of the imports were being made in China through the unfair acquisition and forced technology transfer from US companies. China warned that the measures announced amounted to a declaration of a ‘trade war’ and threatened tariffs of its own.
Wei Jian Guo, of the China Centre for International Economic Exchanges said: ‘American cars, aircraft, soya beans and microchips could be hit. China is not afraid. Mr Trump should know that this is a very bad idea, and there will be no winner… There will be no good outcome for both nations.’ The news led to Wall Street’s Dow Jones Index dropping by 2.9 per cent – its worst one-day fall since early February.
Donald Trump is antagonising new targets every week, sacking nearly everyone in his administration who disagrees with him and denying every time a scandal hits him personally or his many cohorts, who seem to sustain him so far.
The Ides of March have passed, but for how long? That’s the big question looming on the horizon.