There are a few economists that thinks the U.S. is already in a trade war. But the United States had a record high trade deficit last year because of all of the imports into our country.
The President is trying to balance trade, but these same economists think the president’s strategy of using tariffs won't do any good.
However, one economist wasn’t quite as certain, saying that for it to be beneficial, tariffs depend on being short-lived and resulting in trade initiatives with market access or purchase commitments.
Some of the tariffs proposed by President Trump went into effect last week.
John's Ag Minute is in the player below.