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Bloomberg is about as anti-Trump a mainstream media outlet as there is. In their relentless pursuit of tarring the President in every conceivable way, they recently published an interactive map showing how much the Gross Domestic Product (GDP) of various countries would be hurt in a trade war with the U.S.
The intent and narrative of the article and map, “These Countries Face the Biggest Trade Risks” was clearly designed to show all of the damage that could be done by Trump and his reckless trade wars. Here’s the lead to set the tone:
Backlash - Globalization - Price
“The backlash against globalization comes with a heavy price.
A wave of disruptions is rocking the world trading system. Britain’s divorce from the European Union has turned messy, while the U.S. trade war with China has investors on edge. The cost of such risks is substantial, according to an analysis by Bloomberg Economics of OECD data. About 2.3 percent of global GDP is tied to trade flows that are at risk from greater protectionism, equivalent to almost $2 trillion in output, according to an analysis by Bloomberg economists.”
Map - Eyes - Negotiations - Behalf - United
But looking at the map they produced through the eyes of negotiations on behalf of United States’ companies and workers reveals something that Bloomberg cannot see through their eyes of Orange Man Bad: America has enormous leverage in every one of these trade negotiations.
This leverage has always been there, but previous presidents in both parties chose not to take advantage of it. Trump, operating under the rubric of America First however, realized that not only have American companies and workers been disadvantaged through poor trade agreements and enormous cheating by China among others, but that America has the economic leverage to be able to create much more level agreements and curb the cheating.
And the map shows just exactly that. It includes the...
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