There are actually three separate conflicts with China, involving industries of the past, present, and future. Here is where they stand:
- The steel and aluminum tariff made no sense whatsoever. It was an attempt to protect an industry that is, to put it mildly, already mature on specious national security grounds. It will undoubtedly cost more jobs than it saves. Finally, very few of our steel and aluminum imports come from China. What’s not to like?
- Protecting intellectual property is a legitimate ongoing issue. It is doubtful that tariffs, which only invite retaliation, are the best way to accomplish the objective. Working with our allies within the WTO framework is a more logical approach.
- Responding to “Made in China 2025” with regard to cutting edge industries of the future is perfectly sensible, given the national security implications of these technologies. Again, however, imposing tariffs unilaterally is hardly the solution to the problem; mobilizing the rest of the world to change Chinese behavior is.