Lovely quoted in Politico article on impact of Trump's trade policy

February 8, 2021

Politico

Mary E. Lovely

Economics Department

China

International Agreements

Trade

United States

Politico

Mary E. Lovely

"The Trump administration never had a feasible plan for reducing the trade deficit," explains Professor Mary Lovely. "Their 2017 tax cut ensured that the U.S. as a whole would continue to spend more than it produced, hence the need for a current account deficit. The tariffs on China reduced imports from China, but these were mostly replaced with imports from other sources." Read more in the Politico article, "America’s trade gap soared under Trump, final figures show."