Scott Bessent says America will inevitably win a trade war against China because we have less to lose; we export far less to China than we import. Is he right?
Like many other foolish Republicans, Bessent sees Americans purely as producers–not as consumers. The large increase in prices that will follow the China tariffs will inflict plenty of pain in this country, to which the reactionary base will not be immune. Due to his public security apparatus, Xi can disregard public opinion to a great degree. Trump has no such luxury. At least for now.