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(Probably one of the reasons that Michael Bloomberg will be putting up $80 million for DP candidates in the midterm elections. One of the under-researched topics is how the ruling class lines up for and against Trump. That's what Daniel Guerin did in "Fascism and Big Business" and what lot's of young radical PhD students did in the 60s and 70s. Where are they now? Falling asleep into their oatmeal on PEN-L, I guess.)
The fallout domestically from the coming trade wars could be horrific if Trump truly makes good on his promises and refuses to back down, while the countries he’s attacking ratchet up their own responses, whether in terms of tariffs or simply a refusal to buy American goods. According to the U.S. Chamber of Commerce, up to 2.6 million American jobs could be threatened if, in the process, the U.S. also withdraws from NAFTA.
Even American CEOs are now running scared of the CEO-in-chief. A recent survey conducted by the Business Roundtable lobby group, chaired by JPMorgan Chase CEO Jamie Dimon, revealed that their “economic outlook index” had declined this past quarter from a record high, the first drop in two years. According to the report, nearly two-thirds of the CEOs surveyed considered trade policy a “serious risk.” Rather than planning future corporate hiring sprees, as Trump might have us believe, their fears of future trade wars actually seem to be curtailing job-expansion plans.
full: https://www.counterpunch.org/2018/06/22/how-trumps-trade-wars-could-lead-to-a-great-depression/
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