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TRUMP’S DESTABILIZING ECONOMIC POLICY

March 8, 2018

 

FOR IMMEDIATE RELEASE

Thursday, March 8, 2018

TRUMP’S DESTABILIZING ECONOMIC POLICY

A statement by Rev. Jesse L. Jackson, Sr.

 

President Trump today launched a major new economic policy – stiff new tariffs –  without consulting his own staff.  Part of what President Trump claims is that he is making the change in the name of national security, but his Defense Secretary was unaware that such a change was to be announced.

Normally such a drastic change would be processed through diplomacy at the State Department only after the Secretary of State had talked and negotiated with our allies, but in this instance the Secretary of State was unaware that the change was coming.  It was announced abruptly.

Trade is only one aspect of national security.  Good relations and respect for our allies – especially some of our closest allies – is also a major source of security, yet Donald Trump is potentially punishing two of our closest neighbors and friends, Canada and Mexico.

Announcing a trade war is destabilizing to the world economy, will likely destabilize the U.S. stock market. as well as other industries – especially agriculture – and is likely to have a negative impact on our general domestic economy.

If we put tariffs on other country’s products they will inevitably put tariffs on ours – thus a trade war.  President Trump is wrong when he says trade wars are good and easy to win.

News reports have suggested that this policy was hatched because the President was upset and angry at reports coming out of the Mueller investigation and the loss of his long-time and closest associate, Hope Hicks.  He was looking for a fight and Secretary of Commerce Wilbur Ross suggested a trade war.

This new protectionist policy is likely to leave the U.S. less protected.

 

-30-

 

Frank Watkins
fwatkins@rainbowpush.org

 

Rainbow PUSH Coalition is a multi-racial, multi-issue, progressive, international organization that was formed in December 1996 by the Reverend Jesse L. Jackson, Sr. through merging of two organizations he founded Operation PUSH People United to Serve Humanity (estab. 1971) and the Rainbow Coalition (estab. 1984). With headquarters in Chicago and offices in Washington, D.C., Atlanta, Detroit, Houston, Los Angeles, New York and Oakland, the organization works to make the American Dream a reality for all citizens while advocating for peace and justice around the world. RPC is dedicated to improving the lives of all people by serving as a voice for the voiceless. Its mission is to protect, defend and gain civil rights by leveling the economic and educational playing fields while promoting peace and justice around the world.

 

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