John MacDonald: Trump's economic vandalism is staggering

I saw a brilliant cartoon the other day which had America’s founding fathers sitting around a table writing up the country’s constitution - and they had agreed that the US wouldn’t have a king, but they were thinking about having a drama queen instead.  

And after what we saw overnight, I think it would be pretty hard to argue that the current US president is anything but a drama queen. He’s also an economic vandal.  

Donald Trump has announced that he’s pausing his global trade tariffs for 90 days for most countries, but upping the ante with China. Increasing the tariff on Chinese goods going into the United States to 125%.  

And as Chinese political scientist Shi Yihong is saying today, this is going to mean that trade between China and the US will be “mostly destroyed”.  

American economist Arthur Kroeber agrees, saying that what’s happening right now shows that Trump is committed to ending US trade with China.  

Which equates in my mind to one thing: economic vandalism.   

And if you want proof, consider what America’s Treasury Secretary Scott Bessent is saying. He says this flip-flop was Trump's plan all along  

He says: “This was his strategy all along, and that you might even say that he goaded China into a bad position and they responded. They have shown themselves to the world to be the bad actors, and we are willing to cooperate with our allies and with our trading partners who did not retaliate. It wasn’t a hard message: don’t retaliate, things will turn out well.”  

How chilling is that?   

If Trump planned this all along, it shows how comfortable he is causing economic chaos around the world.  

Maybe that shouldn’t surprise me. Which is why I mentioned that cartoon earlier. All this tariff stuff has been the work of a drama queen, but I reckon that this development overnight takes things next level.  

When we’ve got the head of the Treasury in the States saying that this was Trump’s plan all along —to slap countries with tariffs, see which ones retaliate, and then give the countries which don't retaliate some sort of 90-day “get out of jail card”— it's economic vandalism.  

It’s clear now too that Donald Trump wants the world to cower in fear of him.  

And it’s working. Not that I expect or want our government to go ape at him and his administration, because I don’t think that would achieve anything, but the careful language we’re hearing from the likes of Nicola Willis shows that even our government is walking on eggshells.  

Back in November, when Trump won the presidential election, political commentator Matthew Hooton said the US was entering “its most dangerous period since 1861, the start of the civil war” and that the world was entering its most dangerous phase since World War II.  

He said back in November: “The world enters its most dangerous period since World War II, with Trump threatening to launch a global trade war and collapse the World Trade Organisation.”  

Matthew Hooton said that during his last term, Trump had at least some people in his circle who could be relied on to keep his most extreme tendencies in check.  

He said: “There are no such people around him this time. Nor is he constrained by the need to worry about re-election.” Hence, his conclusion that we were entering very dangerous times.  

And I think maybe he’s turned out be right.  

And I’m starting to think that maybe I was wrong. Because when I read his article in the NZ Herald I said that, on the basis of the world not falling apart last time he was president, I wasn’t going to buy into the hysteria.   

I did say I could be proven wrong. And going by the way the world looks today, I may have just been proven wrong.  

See omny

Episode Transcript

Speaker 1 (00:06):
You're listening to the Canterbury Mornings podcast with John McDonald
from newstalk ZB.

Speaker 2 (00:13):
I saw a brilliant cartoon the other day which had
America's founding fathers sitting around a table riding up the
country's constitution, and they'd all agreed that the US wouldn't
have a king, that they were mowing the idea of
having a drama queen instead. Brilliant cartoon, and after what

(00:36):
we're saying overnight, I think it would be pretty hard
to argue that the current US president is anything else
but a drama queen. He's also an economic vandal, so
you will have caught up with US. Donald Trump has
announced that he's pausing his global trade tariffs for ninety

(00:57):
days for most countries, but he's upping the ante with China,
increasing the tariff on Chinese goods going into the States
to one hundred twenty five percent, and as Chinese political
scientist Shi Yi Hoong is saying today, this is going
to mean that trade between China and the US will

(01:18):
be quote mostly destroyed. American economist Arthur Kreeber agrees, saying
that what's happening right now, right this morning, shows that
Trump is committed to ending US trade with China, which
in my mind equates to one thing, economic vandalism. That's

(01:40):
what Trump is. He's an economic vandal And if you
want more proof, just listen to what America's Treasury secretary said,
we want to go. This is Scott Bessant. He said
a couple of hours ago that this temporary flip flop
will U turn or whatever you want to call it.
He says it was Trump's strategy all along. I'm going

(02:02):
to quote him directly because it's an absolute shocker. He says,
quote this was his strategy all along, and that you
might even say that he go to China into a
bad position and they responded. He says, they have shown
themselves to the world to be the bad actors, and
we are willing to cooperate with our allies and with

(02:23):
our trading partners who did not retaliate. He says, it
wasn't a hard message, don't retaliate, things will turn out well.
How chilling's that If that is the case, then it
says that Trump planned this all along, and he was
comfortable with the idea of causing economic chaos around the world,

(02:45):
and maybe that shouldn't surprise me, which is why I
mentioned that cartoon was before the one with the founding
Fathers talking about America having a drama queen instead of
a king, because all of this taro stuff, it's been
the work of a drama queen. But I reckon that
this development overnight has taken at next level when we've
got the head of the Treasury in the States saying

(03:06):
that was Trump's plan all along to slap countries with tariffs,
see which ones retaliate, and then give the countries which
don't retaliate some sort of ninety day get out of
jail card, which I mean what this is. As well
as economic vandalism, it's also political bullying. Until yesterday, it
was Donald Trump riding roughshod. Until earlier this morning, anyway,

(03:29):
it was Donald Trump riding roughshod over the global economy. Overnight,
though it's become clear that it's much more than that,
because if the plan all alongs to hit countries with tariffs,
give the ones who behave ninety days off, but go
harder on the ones who fight back, that's bullying as
far as I'm concerned. It's clear now that Donald Trump

(03:49):
wants the world to cower in fear of him, doesn't
he And it's working. I mean not that I expect
or want our government to go ape at him and
his administration, because that will achieve nothing. But the careful
language we're hearing from Nichola willis it's appropriate, totally appropriate,
but it shows that even our government is walking on eggshells.

(04:12):
Can I take you back to November November last year,
when Trump won the presidential election, political commentator Matthew Houghton,
he said that the US was entering quote its most
dangerous period since eighteen sixty one, the start of the
Civil War. He also said that the world was entering
its most dangerous phase since World War II. He said,

(04:36):
back in November, quote, the world enters its most dangerous
period since World War Two, with Trump threatening to launch
a global trade war and collapse the World Trade Organization.
He said that during his last term, Trump had at
least had some people in his circle who could be
relied on to keep his most extreme tendencies in check,
but Matthew Houghton said, quote, there are no such people

(04:58):
around him this time, nor is he constrained by the
need to worry about re election. Hence his conclusion that
we the States and the world were entering very dangorous times,
and I think maybe he's turned out to be right.
And I'm starting to think. What's more, I'm starting to

(05:20):
think that maybe I was wrong, because when I read
his article on the Herald, I said to you that
on the basis of the world not falling apart last
time he was president, I wasn't going to buy into
the I wasn't going to buy into the hysteria. I
did say at the time, I could be proven wrong.
And look, going by the way the world looks this
morning and the way the world feels this morning, I

(05:43):
may have just been proven wrong.

Speaker 1 (05:46):
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