ECONOMISTS and financial experts in America are bemused by President Trump's apparent belief that when he slaps a tariff on imports from China, the Chinese pay for it – as reported in depth last weekend by our sister newspaper, the Sunday Tribune.
Of course, it's the importer who pays for it and he passes it on to his American customers. Walmart, the American mass merchandiser that imports in huge bulk from China, has already announced that prices will rise.
Yet the New Yorker quotes Trump urging Americans to boycott Chinese goods and "just buy things at Walmart."
"Trump made his request via Twitter, where he told his fellow-citizens that it was their 'patriotic duty' to punish China by buying as many goods at Walmart as possible.
"If you go to a GREAT AMERICAN STORE like Walmart, you'll find lots of cheap sportswear, shoes, and other items for you and your family to enjoy," he tweeted. "What better way to show China that we don't need their DUMB STUFF!"
"Shortly after Trump sent those marching orders to his countrymen, the Chinese President, Xi Jinping, offered a muted response. 'I'm beginning to see how he lost a billion dollars,' Xi said." (New York Times investigations claim this is what Trump's business lost in the 1980s and 1990s).
The New Yorker piece is, of course, the work of scallywag satirist Andy Borowitz. This financial stuff is enough to make the head spin.
This blog will be an archive for my writings including myCaptain Cook and Idler's columns, which are carried in the Mercury newspaper in Durban, South Africa.
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