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Trump’s tariff battle with China has ‘echoes of the Vietnam war’, US economist says
Adam Posen, former Bank of England policymaker, compared the tactics to Johnson and Nixon refusing to back down
A leading US economist has likened Donald Trump’s tariff battle with China to the Vietnam war, arguing that both sides will be caught in a quagmire and unable to find a face-saving exit.
Adam Posen, the head of the Peterson Institute in Washington and a former Bank of England policymaker, spoke to the Guardian after penning an article for the US magazine Foreign Affairs. He said Trump’s tactics had “echoes of presidents Johnson and Nixon in the Vietnam war, unable to believe that they wouldn’t win if they only upped the attacks, and unwilling to negotiate a real peace”.
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The care minister has defended the government’s cautious response to developments in global trade after the sweeping imposition of tariffs by the US administration in Washington.
Stephen Kinnock said “If we were to just jump in one direction or the other every time there’s a new development, we would be jumping around all over the place. I don’t think that that’s going to be in the interest of our economy or of our national security or of our business community.”
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