Well, Richard Nixon was very successful getting re-elected in 1972, by goosing the economy by forcing the fed to hold down interest rates, fueling the inflation that would kick in 1973 when the oil crisis got underway. Because, like in 1972, the all is calm in the oil markets, and oil is cheap and plentiful for now.
"President Donald Trumpβs decision to impose tariffs on an additional $200 billion of imports from China drags the biggest part of the U.S. economy into the thick of the trade war, threatening to deliver a more direct hit to growth."
'The 10 percent tariffs announced on Monday -- which take effect Sept. 24 and will rise to 25 percent in January -- affect everyday items including food, furniture, and clothing, making grocery shopping and holiday gifts potentially pricier. That broadens the trade fallout more directly into the realm of household spending, which accounts for about 70 percent of the U.S. economy."
I am just glad that the Trump hasn't taken the same view on nuclear war as trade. America has some big nuclear weapons but a few strategically dropped Russian bombs on major American cities could do end a lot of lives.
"You probably didn't learn about Smoot-Hawley in high school. It's literally the subject of the "anyone? anyone" speech in Ferris Bueller's Day Off. But the real story of that terrible bill is far from boring. Itβs actually a fascinating tale of protectionism, politics, piety and patriotism."
"A peek inside ZTE Corp.βs flagship smartphone reveals how badly the Chinese telecom giant needs a deal to lift a U.S. ban on shipments of phone parts to the company.
U.S. companies supply 60% of the electronic components in ZTEβs Axon M phone based on dollar value, according to ABI Research Inc., a market-forecasting firm."