Special Notice 2

By William J. Dodwell    June 19, 2018            

The president continues to stick to his guns on immigration and trade.  He insists he will not support migrant camps in the U.S.  He is only enforcing existing law regarding custody for children separated from their parents because of their required jailing for the misdemeanor of crossing the border illegally.  Democrats and many Republicans want him to ignore the law and allow the migrants permanent entry which means effective amnesty and eventual voting rights.  Of course, doing so would encourage additional mass migration which Trump will not abide.  Many of the children detained were abandoned by horrible parents who never even toilet trained them.  What’s more, without current protection some children would be joined by kidnappers, pedophiles and traffickers claiming to be their parents.  As Trump says, Congress could quickly amend the law to mitigate the separation problem but Democrats refuse because they want to exploit the optics of crying children for political gain in the midterm elections.  Meanwhile the children are enjoying a physical quality of life better than many Americans.

On the trade front, Trump just declared an additional $200 billion of tariffs on imports from China, in addition to the $50 billion currently in place.  China likely will cry “uncle” first, resulting in major tariff relief (ideally tariff elimination). In the meantime, many small businesses in particular have to bear higher prices for imports and for product of competing domestic producers.  Some may have to close shop.  This is most unfortunate but recall Fed Chairman Paul Volcker’s monetary tightening in the early 1980s that did the same amid a sharp recession.  That action ushered in economic growth and stability still enjoyed today.  Economic relief from fair trade would foster a similar stimulus.  It is worth the short-term pain.  The same applies to other trading partners.

Only President Trump has the courage and conviction to pursue these and other important policies.  What leadership!

                                                                                                ©2018 William J. Dodwell

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