Washington’s insistence on retaliating against China for undervaluing its currency, dumping cheap goods onto U.S. markets, and for subsidizing exports implies that China is an enemy to be retaliated against. But does anyone seriously believe that U.S. consumers are worse off if goods can be imported more cheaply than they can be produced at home? Imposing tariffs on China harms U.S. consumers and industrial users of imported products; it is an act of economic suicide.
Politicians are the greatest threat to our prosperity. Cutting off trade with China will have some serious consequences - for us.