Recently, President Trump decided to start a trade war with China and any other country willing to retaliate against his tariffs. Trump seems to think our trade deficit—the difference between what we buy from other countries vs. what we sell to them—means we’re losing money. We’re not. Jimmy Kimmel brought on a very young “expert” to clue him in on the facts.
Donald Trump is angry about our trade deficit with China and he’s decided to escalate the trade war he started. The only problem is he doesn’t seem to know what a trade deficit is. Recently he tweeted this:
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
When you’re already $500 Billion DOWN, you can’t lose!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
You can’t lose baby! Roll them bones! While a “trade deficit” sounds bad, it’s just the result of our country importing more goods and services from other countries than we export. That’s it. I have a “trade deficit” with McDonald’s but I’ve also eaten a lot of chicken nuggets, so it’s kind of a wash.
Because Trump seems confused about what a trade deficit is, Jimmy Kimmel enlisted the help of an adorable “expert” to explain it to him:
It’s so simple even Trump can understand it! While Trump continues to insist either that trade wars are good and easy to win or that we’ve already lost or that we “can’t lost” the markets definitely are responding well to his trade war. After he announced $100 billion in new tariffs against China the Dow plunged in after hours trading. Someone needs to send Trump this video to pull us out of this spiral!