The former South Carolina Governor and US ambassador to the UN is under substantial pressure to drop out of the Republican presidential primary race. But she should keep fighting, not only to restore sanity to her party, but also to promote policies that stand in stark contrast to Donald Trump’s damaging and dangerous protectionism.
WASHINGTON, DC – Thank heaven for Nikki Haley. The former South Carolina governor and United States ambassador to the United Nations has resisted pressure to drop out of the 2024 Republican presidential primary, a move that would make former President Donald Trump the party’s nominee.
Given the damage Trump’s agenda would cause if he won a second term in November, Haley should keep fighting all the way to the Republican National Convention in July. Trump is considering creating a “ring” around the US economy by imposing a 10% tariff on all imports and downgrading China’s trade status, which would increase tariffs substantially. He has even talked of applying tariffs of 60% or higher on Chinese goods.
A universal 10% tariff would have the same effect as the tariffs Trump imposed as president: higher input costs and retaliatory measures, resulting in fewer job opportunities for manufacturing workers. Moreover, the prices of many consumer goods would surge. Economists at Capital Economics estimate that this trade policy, coupled with a new economic attack on China, would cost the US 1.5% of GDP.
WASHINGTON, DC – Thank heaven for Nikki Haley. The former South Carolina governor and United States ambassador to the United Nations has resisted pressure to drop out of the 2024 Republican presidential primary, a move that would make former President Donald Trump the party’s nominee.
Given the damage Trump’s agenda would cause if he won a second term in November, Haley should keep fighting all the way to the Republican National Convention in July. Trump is considering creating a “ring” around the US economy by imposing a 10% tariff on all imports and downgrading China’s trade status, which would increase tariffs substantially. He has even talked of applying tariffs of 60% or higher on Chinese goods.
A universal 10% tariff would have the same effect as the tariffs Trump imposed as president: higher input costs and retaliatory measures, resulting in fewer job opportunities for manufacturing workers. Moreover, the prices of many consumer goods would surge. Economists at Capital Economics estimate that this trade policy, coupled with a new economic attack on China, would cost the US 1.5% of GDP.