Poor will suffer most in trade war
To the editor:
President Trump’s tariffs on Chinese steel went into effect on June 6, sending the current global economic order into a tailspin. As economic elites rage and wage their trade war, the rest of the world watches in horror, especially the globe’s most vulnerable populations.
A recent Foreign Affairs article asserted that the world’s poor would suffer the most from the economic trade war. Free trade is closely related to the dramatic drop in the number of people in extreme poverty (those living on less than $1.90 a day). If poor countries are able to competitively sell their goods globally, or bring in foreign direct investment from wealthy countries, growth skyrockets. This investment and economic stimulus means more jobs and less people in poverty. President Trump’s tariffs could bring this growth to a screeching halt. Additionally, other countries could adopt protectionist trade policies, like retaliatory tariffs, making the situation worse. I urge our members of Congress to oppose these tariffs and support other anti-poverty legislation, like the Food for Peace Modernization Act.