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I am not sure Trump is coherent enough to have any political philosophy, but I wouldn't necessarily consider him mercantilist in full. I think he cares as much or more about wealth as consumption so financial flows are more important than trade flows but the latter may be easier to attack as the former were largely in the past. Tax cuts reign paramount, so he doesn't care as much about the country's wealth as his own, so he doesn't care about them that much. Mostly political theater and a way to pressure multinationals as much as governments. That he is 10 years out of date is his chief problem.

He is a con man that is far away from a mercantilist. The US runs a trade deficit because they run the biggest consumption racket in the world. If they cut their consumption via hire inflation and instead focused on investment, the trade deficit would fall to squat.

Then you have his problem of being a Russian asset. NAFTA had quite a bit of mercantilist support for the US. I suspect the Eurasians would not want to see this support cut and cause a financial crisis in the US. They got things for Donald to do before his time is up.

If you are not the issuer of the global currency, mercantilism is the only logical conclusion.
The problem with DJT is not a misunderstanding of trade but of money.
And of course, given that resources are not fungible and not Ohio worker can be transmogrified into a Silicon Valley programmer, his policies and politics make sense.
That they are destructive is an unfortunate side effects.

I seem to recall that balance of trade numbers only cover goods, not services. Is this still true in the "USA has a trade deficit" assessment?

"The policies were essentially geared towards the overall size of the economy – extensive growth – rather than raising per capita income – intensive growth."

"3) That a large, working population be encouraged."

His immigration policies are at odds with both these points, though. Hm.

Re the US trade deficit, see: https://www.nytimes.com/2017/10/05/us/politics/united-states-trade-deficit-shrinks-in-august-as-exports-rise.html?_r=0

Good point regarding immigration policy though my guess is Mercantilists probably would have preferred large working populations to be created via natural increase - i.e., more births.

"Mercantilist thought reduces to a few key concepts: the balance of trade, with an excess of exports over imports as the index of prosperity."
Seems a remarkably low risk of the USA achieving an excess of exports over imports any time soon... not under Trump, nor any other President.

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