Analysis: President Trump bets his political future and the US economy on China
That's how badly Trump has twisted himself around the axle of a trade war with China, and it carries risks for both his policy aims and his re-election campaign. Rather than seeing a caution flag in his party's loss of House seats in the 2018 midterms — many of them in districts deeply affected by his trade agenda — Trump has hit the gas.The gamble is that he can bring China to its knees before economic pain devastates his political coalition.
It's not an entirely partisan issue. Many Democrats, conscious of trade wariness on the left, have been critical of China and supportive of the president's overall efforts to press Beijing.," Senate Minority Leader Chuck Schumer, D-N.Y., tweeted earlier this month — before the latest round of tariffs."Don't back down. Strength is the only way to win with China."
Trump has touted both the health of the stock market and rising gross domestic product growth during his administration as reasons voters should re-elect him. But both could be imperiled by an extended battle with Beijing, according to Phillip Braun, associate chair of the Finance Department at Northwestern University's Kellogg School of Management.
Larry Kudlow, director of the White House's National Economic Council, admitted during an interview with Fox's Chris Wallace on Sunday that American consumers end up paying the premium for tariffs rather than China, as Trump has said repeatedly.
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