The USA's 3 biggest exports are:<p><pre><code> #1: Stability/security/trust
#2: Debt
#3: Services
</code></pre>
#1 was killed by Trump's election. Why negotiate with someone who has a long history of violating agreements?<p>#2 was put in serious jeopardy on "Liberation Day". The "allies" he attacked are the same people who buy our debt. Oooppsie! T-bill rates jumped by 1/2 a percent in the week afterwards and "liberation" was immediately put on hold.<p>#3 has been largely ignored thus far in the "trade war". But the services we export are larger than the goods we import. A "tariff" on services would pretty much negate any negotiating advantage Trump think he holds. Sorry, but you were conned --- the emperor has no clothes.<p>Bottom line: There are no "winners" in a broad scale trade war. Everyone loses. The sooner we put this misadventure out to pasture the better.<p>And by the way, there is nothing "free" about economics by decree. It is really a socialist idea.