Trump’s High Stakes G-7 Gamble to Remake the World As It Is

    James Roberts

    Economics,

    The G-7 Summit and Donald Trump explained through the lens of 007. 

    Who could blame Donald Trump for leaving the G-7 early?

    Why would he willingly submit to a dismal dressing down by Justin Trudeau and his finger-wagging troupe of green extremists?  They wanted him squirming in his seat while they made him out to be the Great Global Ocean Killer. It was a set-piece of political theatre and Trump, the world’s now-acknowledged master of that genre, was having no part of it.

    Compared to all that, playing a 007-ish hero sipping Singapore Slings with Kim Jong-un, a live-action mass murdering villain in the real world, must have seemed like Ferris Bueller’s Day Off.

    A day off, too, from more schoolmarmish virtue-signaling by Angela Merkel and her star pupil, Emmanuel Macron, angry at Trump for blocking their factories from churning out new state-of-the-art products to prop up another group of evil thugs in Tehran.

    James Bond’s “Q Branch,” though, never provided weapons as powerful as those deployed by President Trump against his G-7 counterparts. U.S. tariffs on steel and aluminum imported from the other G-7 countries, as well as on NAFTA partner Mexico, are exceedingly dangerous and subject to economic laws of unintended consequences.

    Tariffs inflict blunt-force trauma; they are not the smart and highly accurate weapons of the Bond movies. They can back-fire on the American economy. Indeed, they already are.

    Extending the Bond analogy, let’s define the mission Agent Trump says that “M” (the American people) has assigned to him: reduce chronic U.S. trade deficits, stimulate job-creating domestic manufacturing, and ramp up exports.

    We can decry the flawed economic theory behind this Peter Navarro-inspired trade war strategy, but there is no debate that if this protectionist gamble succeeds, it will be a blockbuster hit in the Upper Midwestern industrial states that put Trump into the White House.

    So what are Agent Trump’s goals?

    Trump knows that “The World As It Is,” the world he is seeking to remake through this strategy, is the world Barack Obama made, a world where America was to be “transformed” into a country with more refined European sensibilities.

    And that world is best exemplified by mercantilist Germany, birthplace of those wealth-redistributing Bismarckian bureaucratic leviathans that now populate OECD countries. Their unfunded liabilities threaten to capsize the ships of all the G-7 states.

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