What economic theory of trade do Donald Trump’s views seem most closely aligned with?

A theory of economics termed mercantilism helped to shape the early modern era. It fuelled
colonialism and imperialism for a large portion of the 17th and 18th century before being
supplanted by capitalism. It was less of an ideology than it was a justification for the policies that
various nations were enacting. The goal was to enhance your country's prosperity by increasing the
value of your exports while reducing the value of your imports. This was achieved by enforcing tight
control over the money supply, encouraging domestic manufacturing, and limiting the import of
finished goods through tariffs.

The economic theory that Donald Trump's views on trade seem to be most closely allied with
mercantilism and the idea that it is in a nation's best interests to export more than it imports. This
opinion will probably draw attention to the fact that Donald Trump appears to reject the idea that it
might be more efficient for other countries to produce goods that. For example, require low-cost
labour and instead appears to want higher-wage a workers to keep those jobs. The isolationist mind-
set and opposition to a global economy that Donald Trump possesses may also be brought up by
some pupils.

Even his fondness of tariffs as a tool is a throwback to antiquated economic theory; even neo-
mercantilist economists do not advocate the use of tariffs. He's not quite doing it correctly, though.
Colbert and other mercantilists sought to procure raw materials as inexpensively as possible while
imposing tariffs on finished goods to promote domestic manufacturing. The United States currently
imposes taxes on materials used to create other products, such as steel. Even if there may be
political or economic benefits, this is illogical from a mercantilist standpoint. Instead of steel, they
would impose tariffs on automobiles and washing machines.

On the other hand, they are carrying out their assigned tasks. As a result of rising tariff charges,
some consumers are once again choosing to purchase from American manufacturers. Another
question is whether these purchases will be sufficient to halt the anticipated employment losses in
other economic sectors. For the reasons outlined above, the trend toward free trade is not expected
to change anytime soon. But there is historical precedent for the current pattern of shutting markets
and creating trade wars. We don't yet know how these tariffs will ultimately affect the world
economy, but history and economic theory indicate that there will likely be some excitement.

(https://www.studocu.com/en-ca/document/university-of-ontario-institute-of-technology/
international-finance/case-assignment-analysis-of-the-industry-mandatory-assignment-analyzing-
the-marketing/15149778)

(https://bigthink.com/the-present/donald-trump-trade-mercantilism/)
Do you think Trump is correct? Are trade wars good and easy to win? What does it mean to
“win” a trade war? What does it mean to “lose”?

Following his victory in the election, Donald Trump has moved quickly to alter what he believes to be
bad agreements for the United States. Within days of taking office, he announced his withdrawal
from the Trans-Pacific Partnership (TPP), began the process of renegotiating North American Free
Trade Agreement (NAFTA), and enacted sizable tariffs on steel and aluminium, threatening to
impose even higher tariffs if other countries do not comply with his demands. Trump's actions,
which indicate to the copious evidence that free trade is advantageous and that trade agreements
are a positive-sum game, will confound many students. Trump's strategies will be backed by other
students who will recite his claims that China and Mexico are exploiting the United States. Some
pupils may have personal experience with employment losses brought on by changes in
manufacturing locations or low-cost imports. These pupils might be in favour of the idea that action
taken to protect American jobs requires protectionist measures. However, likely refute their claims
with a discussion of how trade is crucial for the expansion of the world economy and the necessity of
looking at the whole picture rather than just a portion of it.

(https://www.studocu.com/en-ca/document/university-of-ontario-institute-of-technology/
international-finance/case-assignment-analysis-of-the-industry-mandatory-assignment-analyzing-
the-marketing/15149778)

(https://prezi.com/p/i_kmfv4srs--/closing-case-trade-wars/)