C.J. Atkins at People’s World reports what we’re witnessing in real-time is a struggle within the ruling class over what the future of U.S. capitalism - in fact, world capitalism - should look like. Representing those sectors of capital feeling the heat of competition on the world market (especially from China’s rapidly advancing firms), President Donald Trump has the system of free trade in his crosshairs. Arrayed against him are those capitalists and neoliberal ideologues who remain as committed as ever to the system of free trade and open markets. But erecting protectionist walls around particular U.S. corporations and hurting foreign manufacturers isn’t Trump’s only goal. This whole tariff onslaught has another aim in mind: Making the American Working Class pay for the next round of tax cuts he wants to give to corporations and billionaires. His economic advisors are betting revenues from his tariffs will fill the U.S. Treasury’s coffers with so much cash that the government will be able to afford another giant tax cut for the rich and perhaps even eliminate income taxes altogether, but the question Trump and his spokespeople always try to avoid: Who pays the tariffs?

To Continue Reading This Labor News Report, Go To: Layoffs, price hikes, retaliation: What workers can expect from Trump’s trade war – People's World

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