Economics 101

Anew video by a Chinese government media outlet features an English-speaking cartoon soybean explaining why the trade war started by President Donald Trump is bad for Americans.

The scariest part? That talking bean makes a lot more sense on trade than the president does.

Trump on July 6 imposed $34 billion worth of tariffs on Chinese imports to the United States. There have been legitimate concerns about China’s trade practices. But as with immigration, foreign policy and other areas, Trump is more interested in chest-thumping than problem-solving, and as a result he’s made the problems worse. To the surprise of no one, China retaliated against Trump’s tariffs with the same tariff level on American products going there, including soybeans.

Trump is now pondering $200 billion more in potential new tariffs against China. We are living the very definition of a trade war.

“Most of the U.S.’s soybean exports — 62 percent — go to China,” notes the bean. “More expensive soy could mean that China will look to other sources for the bulk of its imports. … Brazil and Argentina could pick up the slack. If that happens, soybean farmers in the U.S. could take an even greater hit.”

What does it say when a communist propaganda cartoon provides a more accurate assessment of the economic and political ramifications of this unnecessary trade war than anything coming out of the White House?