Trump's tariffs will not help the working class

IN truth, there is no such thing as the "national interest. We are not one nation, not because of any differences in skin colour or ethnicity, but because of social class. The richest 20% of British citizens live totally separate and different lives from the poorest 20%. In general, their bonuses come from our losses.

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Tax cuts for the rich do not benefit the poor. Surplus personal wealth tends to be spent on luxuries, the larger amounts squirrelled away in off-shore tax-free bank accounts. The working class hardly ever see the real wealth of "our nation"

Trump's tariffs are portrayed as his attempt to pull production back to the United States of America in order to revitalise their indebted economy and improve the condition of the poorest. He has no such intention, and in any case, tariffs don't do that.

Trump's taxes on imports to the USA will fuel price rises, maintaining or even increasing inflation at home and abroad.

The tariffs will damage any capitalist's confidence in investing, anywhere. Look at last week's sudden record losses on stock markets worldwide. The retaliation of other countries with large economies, imposing tariffs on US goods, will replicate the inflationary pressures worldwide.