Oops. Trump Meant $100 Billion.

Apparently someone finally got around to telling Donald Trump that $1 billion is chump change compared to the size of our trade deficit with China:

The Trump administration is asking Beijing for a plan to cut the annual U.S. trade deficit with China by $100 billion, according to people familiar with the matter….According to the people, Trump administration officials made the request to Liu He, the main architect of China’s economic policy, last week when he was in Washington.

I dunno. Maybe Trump can talk China into buying a billion tons of American coal each year. Alternatively, he could talk to an economist, who would tell him that the most effective answer is to weaken the dollar. That’s easier said than done, though, and doesn’t have the same appeal as being able to crow about beating China at its own game. In the end, I assume this whole affair will amount to nothing, although Trump might be able to persuade China to make a few face-saving concessions in return for real-life concessions from the US. That’s how Trump’s dealmaking usually seems to go.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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