CHINA/ECONOMY/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “President Trump on Monday [7-15-19] portrayed America as being on the winning end of his trade war, saying tariffs are punishing China’s economy while generating billions of dollars for the United States, an economic victory that will allow him to continue his fight without domestic harm…But government figures show that the revenue the United States has collected from tariffs on $250 billion worth of Chinese goods is not enough to cover the cost of the president’s bailout for farmers, let alone compensate the many other industries hurt by trade tensions. The longer Mr. Trump’s dispute with China drags on, the more difficult it could be for him to ignore that gap. Mr. Trump’s tariffs on Chinese imports raised $20.8 billion through Wednesday [7-27-19], according to data from United States Customs and Border Protection. Mr. Trump has already committed to paying American farmers hurt by the trade war $28 billion.”

Ana Swanson and Jim Tankersley, “Tariffs on China Don’t Cover the Costs of Trump’s Trade War,” The New York Times online, July 15, 2019