People’s Daily recently published a commentary in its paper edition, which other media, including Business Daily, then published on-line, predicting the U.S. initiated trade war will soon see its end, although it may look like the U.S. is having a high time and fun at the moment. The “American First” slogan has been shouted for over a year now and some did see a few big steps taken. However, those in the U.S. who did not feel the “First” privileges also started complaining. With the expected big soybean harvest season this fall, Illinois farmers may not necessarily feel happy, since an average loss per acre of soybeans is estimated at US$100. Trump’s US$12 billion federal help may offer a maximum subsidy per acre of US$14. While the U.S. government may not care about the individual farmer’s checkbook, still, the bigger picture does not look rosy either. The U.S. trade deficit in June posted its highest increase in one and one-half years. In the meantime, the U.S. policy makers seem to have suddenly gone completely deaf. They simply ignore the loud and clear voices from the U.S. industries and from around the globe. This is apparently the symptom of a high fever. The dying-down of the fun of “American First” is just a matter of time.
Source: Business Daily, August 16