Peter Schiff Criticizes Trump’s Trade War with China: “Americans Lost More”
Economist and gold advocate Peter Schiff has voiced strong criticism of former President Donald Trump’s trade war with China, calling it a one-sided economic blow that burdened American consumers without achieving its intended goals.
Schiff argues that Americans now face 30% tariffs on Chinese imports, while China only imposes 10% tariffs on U.S. goods—a discrepancy he sees as a net loss for the U.S.
He highlighted the fact that these tariffs weren’t negotiated but rather unilaterally imposed by Trump. “How is that a win for us?” Schiff asked, suggesting the trade war did little more than raise costs for American buyers while offering limited leverage over Chinese trade policies.
In a follow-up post, Schiff pointed out the irony of the outcome: the 145% tariffs imposed on China were initially intended to reduce Chinese tariffs on American products. Instead, he says, China now has tariffs that didn’t exist before, and both sides are stuck with higher trade barriers. According to Schiff, the only clear result of the trade war was “higher tariffs on both sides.”
His remarks reignite a broader debate on whether tariff-driven trade wars can truly benefit domestic economies or whether they simply add more friction to global commerce without strategic payoff.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
