<p><div type="image" title="trump fauci" height="1667" width="2222" msid="75647674" hostid="261"></div></p><ul class="summary-list"><li>Nations around the world have scrambled to respond to the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic. </li><li>But the rapid pace at which the crisis has overtaken health systems in the US and the UK has exposed, and perhaps accelerated, the withering health of these democracies.</li><li>Now, with a president who has touted sunlight and bleach as cures, the US may well resemble the same "outlier" countries it has long believed itself to be above. </li><li>"We are the outlier," a career epidemiologist tells Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>Just a few weeks ago, when borders were closing and the US government had begun to summon its citizens home from abroad, I messaged an American friend in Tokyo to see if he was planning to return. Things were still relatively calm in Japan, he reported. The situation appeared to be under control; the rate of new coronavirus infections had not yet begun to spiral. </p><p>Japan was still considered to be an "<a href="https://www.ft.com/content/194d488d-952a-41bc-8a96-0cd67e2f3b52">outlier</a>" when it came to responding to the virus, a lucky nation whose citizenry had thus far been markedly less afflicted than those of neighboring China and South Korea. He was staying put for now, but every day he thought of where he might go if things got worse. </p><p>"If it were today I would seriously have to think about Beijing," he messaged me. "Totalitarian dictatorships and presidents for life sometimes have advantages. Rarely, but sometimes." Returning to the United States, he said, was not high on his list. </p><p>It was the kind of exchange that only the privileged — people with money, passports, visas, and mobility — can indulge in. His was a cold calculation, one that weighed the relative benefits of democracy and freedom of movement and information against those of a planned economy and authoritarian control.</p><p>Ten years ago — even five years ago — his conclusion would have been unthinkable. Yet now it seems, if perhaps not commonplace, at least comprehensible. For many, it might seem downright sensible. It is a shift worth marking. </p><p><div type="image" title="coronavirus body bag" height="1667" width="2222" msid="75647676" hostid="261"></div></p><h2>The coronavirus is laying bare the tradeoffs that separate different systems of government</h2><p>One might have hoped that large democratic unions like the US and the EU would have been well-prepared to face this crisis, with coordinated, collaborative response mechanisms in place across their member governments.</p><p>Instead, the rapid pace at which coronavirus has overtaken health systems on both sides of the Atlantic has exposed, and perhaps accelerated, the withering health of these democracies and the dwindling viability of the neoliberal order. </p><p>The US and UK both initially sought to downplay the spread of the virus among their populations, hoping they would somehow be spared from its devastating effects. Now, along with Spain and Italy, they <a href="https://coronavirus.jhu.edu/map.html">lead</a> the world in the number of confirmed cases. </p><p>Their positions at the top of the pack are partly due to the fact that authoritarian nations like China, Iran, Turkey, and Russia, appear to have been <a href="https://www.businessinsider.com/wuhan-residents-say-chinese-government-coronavirus-death-toll-is-low-2020-3">less than forthcoming</a> about their diagnoses and death tolls. But that does not account for the whole of this divide. </p><p><div type="image" title="russia coronavirus" height="1000" width="1333" msid="75647682" hostid="261"></div></p><p>The nations with the greatest number of confirmed coronavirus cases are prosperous countries with <a href="https://freedomhouse.org/countries/freedom-world/scores">strong</a> political freedoms and civil liberties. These are the nations that, according to the twin logics of globalism and liberal democracy, should be able to pull through this crisis with their foundations intact and their populations in good health. (<a href="https://www.businessinsider.com/sweden-coronavirus-strategy-explained-culture-of-trust-and-obedience-2020-4">Sweden</a> is, perhaps, a notable exception, but its purported success at bucking the virus and its economic effects <a href="https://www.nytimes.com/2020/05/04/opinion/coronavirus-sweden-herd-immunity.html?action=click&amp;module=Opinion&amp;pgtype=HomepageHomepage">seems to have been over-hyped.</a>)</p><p>Representative governments are, by design, bad at instituting population surveillance and distributed control mechanisms, the kinds of measures that appear to have helped places like <a href="https://abcnews.go.com/International/china-rolls-software-surveillance-covid-19-pandemic-alarming/story?id=70131355">China</a>, <a href="https://www.foreignaffairs.com/articles/united-states/2020-04-10/south-korea-offers-lesson-best-practices">South Korea</a>, and <a href="https://www.wsj.com/articles/coronavirus-paves-way-for-new-age-of-digital-surveillance-11586963028">Singapore</a> attain some degree of containment. </p><p>The unfortunate result is that citizens of free nations now find themselves in the curious position of evaluating the cost at which their hard-won freedoms come, and whether they are worth it. One hopes they come out of this crisis with their faith in democratic systems intact, but that does not seem to be the way the wind is blowing.</p><h2>The pandemic risks accelerating a growing dissatisfaction with liberal democracy</h2><p>For the past several years, political scientists and commentators have <a href="https://www.journalofdemocracy.org/articles/the-danger-of-deconsolidation-the-democratic-disconnect/">worried</a> over the growing sense of disaffection, or ambivalence, that younger generations appear to harbor toward democracy. As efficiency, transparency, and speed came to be the primary values of life under late capitalism, the messy, opaque mechanisms of representative democracy seemed to be going out of style.</p><p><div type="image" title="climate protest" height="1653" width="2204" msid="75647684" hostid="261"></div></p><p>In 2015, an informal <a href="https://www.documentcloud.org/documents/6884063-Conference-Final-Report-4-4.html">poll</a> of Harvard undergraduates found that a concerning number of them did not voice support for liberal democracy. Alumni, by contrast, were more likely to vocally champion America's system of government. In 2016, the results were presented to an audience of North American academics and personnel from the CIA, the Defense Intelligence Agency, Homeland Security, and more. </p><p>The takeaway was that, on both sides of the Atlantic, the shared cultural values that undergird democratic systems of government were unwinding. The results of the Harvard poll were so concerning that administrators took a more comprehensive <a href="https://www.documentcloud.org/documents/6884062-FDR-Harvard-Survey-Sep-17.html">poll</a> of students in the fall of 2017, which confirmed their anecdotal evidence "on the relative loss of confidence in liberal democracy" among the student population. (Different data came to <a href="https://www.journalofdemocracy.org/articles/liberal-democracys-crisis-of-confidence/">similar</a> conclusions.) Liberalism, it seems, had lost the plot.</p><p>The coronavirus crisis risks exacerbating, and perhaps accelerating, this trend. Never in recent memory have national and class differences been felt so acutely, and never has the American political union felt quite so imperiled. Far from being a great equalizer, <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> has exposed just how entrenched the oldest societal divisions really are.</p><p>The white-collar wealthy have been relatively insulated from the virus and its disastrous effects, with <a href="https://www.latimes.com/california/story/2020-03-23/coronavirus-test-rich-poor-doctor">better access</a> to testing, care, and comfortable quarantines. The stock market is <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-reaction-jobless-claims-oil-price-rebound-2020-4-1029123060">rallying</a> even though the national unemployment numbers are growing grimmer by the day. </p><p><div type="image" title="food bank" height="1665" width="2220" msid="75647686" hostid="261"></div></p><h2>The world's "outlier" countries aren't so different from America</h2><p>Now, the nation-state, long <a href="https://www.theguardian.com/news/2018/apr/05/demise-of-the-nation-state-rana-dasgupta">said</a> to have <a href="https://aeon.co/essays/the-end-of-a-world-of-nation-states-may-be-upon-us">entered</a> a period of irreversible decline in the era of open borders, is back with a vengeance, as if it had been merely building its strength up all along. A new kind of global brinksmanship seems to have arrived, with nations large and small <a href="https://www.nytimes.com/2020/05/02/us/politics/vaccines-coronavirus-research.html?referringSource=articleShare">competing</a> against one another in the race for supplies and a vaccine, and with longstanding allies having to <a href="https://news.postimees.ee/6927902/daily-postimees-publishes-front-page-ad-requesting-poland-s-help-in-estonians-return-home">beg</a> one another for mutual aid. </p><p>"You kind of have a natural experiment, because all countries are different," said Ann Marie Kimball, a physician and epidemiologist who is a senior consulting fellow at the <a href="https://www.chathamhouse.org/expert/ann-marie-kimball">Chatham House Royal Institute of Foreign Affairs</a>.</p><p>Before coronavirus swept the globe, the <a href="https://ftalphaville.ft.com/2020/04/06/1586186884000/Poland-vs-Sweden/">headline "Poland v. Sweden"</a> (or <a href="https://www.medicinenet.com/script/main/art.asp?articlekey=230288">Sweden v. Singapore)</a> might have referred to a soccer match. Now it refers to a casualty count. </p><p>On Chinese tarmacs, the U.S. is outbidding its allies for protective equipment for medical personnel. "It's true," as Jean Rottner, the president of the French region of Grand Est, <a href="https://www.cbs46.com/news/a-new-kind-of-global-war-as-countries-battle-it-out-for-masks-and-ppe/article_40232828-769e-11ea-a14e-a34b461ef262.html">told</a> a local radio network: "[O]n the tarmac the Americans arrive, take out cash and pay three or four times more for the orders we have made, so it's necessary to fight." </p><p>One apparent source of consolation has been that, however poorly the world's democracies may be performing, they at least appear to be doing better than the handful of nations whose responses to the threat of the coronavirus have stopped just short of denial, countries where the privileged few do not want to be.</p><p>These nations are "outliers" in a different sense — countries that do not invite kind comparisons, whose leaders have done little to nothing to mitigate the virus's rising death toll. </p><p><div type="image" title="Andrés Manuel López Obrador" height="1638" width="2185" msid="75647688" hostid="261"></div></p><p>In late March, Mexican President Andrés Manuel López Obrador <a href="https://www.elperiodico.com/es/internacional/20200319/amuletos-estampitas-lopez-obrador-luchar-coronavirus-7896098">suggested</a> that the use of spiritual amulets of the saints and virgins can serve as a "protective shield" against infection. Venezuelan President Nicolas Maduro appeared on national television to <a href="https://www.vice.com/en_us/article/y3mjjk/as-coronavirus-spreads-in-venezuela-some-hospitals-dont-have-soap-or-sinks">announce</a> a quarantine and to demonstrate how to properly use a face mask, while also advising his citizens to drink tea with honey. </p><p>In Brazil, President Jair Bolsonaro spoke out against the lockdowns of his nation's major cities, which had been imposed by regional governors and mayors. "If we don't get back to work, Brazil could depart from democratic normalcy," <a href="https://www.npr.org/sections/coronavirus-live-updates/2020/03/25/821327282/in-brazil-bolsonaro-doubles-down-on-exaggerated-coronavirus">he said</a>, adding that if he were to contract the virus, his "history as an athlete" would protect him. He is now <a href="https://www.theguardian.com/world/2020/apr/29/so-what-bolsonaro-shrugs-off-brazil-rising-coronavirus-death-toll">shrugging</a> off his nation's rising death toll. </p><p>The list goes on. In Nigeria, the Yoruba king is <a href="https://globalvoices.org/2020/04/01/a-kings-belief-in-herbal-remedies-to-cure-covid-19-butts-up-against-science-in-nigeria/">working to mass-produce</a> a purportedly curative mixture of bitter leaves, sulfur, black pepper, and cloves. In Belarus, President Alexander Lukashenko has <a href="https://www.ft.com/content/925c16e9-bd18-4678-936a-0539588facfa">prescribed</a> drinking vodka, playing hockey, driving tractors, goat farming, and going to the sauna.</p><p>Turkmenistan <a href="https://www.rferl.org/a/amid-pandemic-turkmenistan-holds-mass-exercise-events-to-mark-world-health-day/30541609.html">celebrated</a> "World Health Day" with country-wide mass sporting events, including cycling, boxing, and gymnastics. The government has sought to <a href="https://www.rferl.org/a/in-turkmenistan-whatever-you-do-don-t-mention-the-coronavirus/30520255.html">avoid</a> using the word "coronavirus" in its official communications, and has placed a <a href="https://www.buzzfeednews.com/article/christopherm51/coronavirus-turkmenistan?bftwnews&amp;utm_term=4ldqpgc#4ldqpgcqpgc">de-facto gag order</a> on doctors to prevent <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> of the virus from spreading.</p><p>In nearby Tajikistan, the government refrained from <a href="https://eurasianet.org/tajikistans-nonchalance-on-coronavirus-shows-cracks">enforcing</a> any public precautions for weeks, claiming the virus had not breached its borders. Now it is in crisis mode, with at least <a href="https://eurasianet.org/tajikistan-plunges-from-denial-to-full-blown-crisis">230 reported</a> cases.</p><p><div type="image" title="GettyImages 1209552234" height="1667" width="2222" msid="75647690" hostid="261"></div></p><p>When these <a href="https://www.wsj.com/articles/cow-dung-garlic-and-a-prayer-the-fight-against-phony-cures-for-coronavirus-11586257200?ns=prod/accounts-wsj">headlines</a> first began to emerge, one could not help but detect something resembling glee, or perhaps schadenfreude, at the plight of these countries, with their authoritarian leaders and their outlandish cures. Unenviable outliers, nations on the losing end of the global supply chain.</p><p>To read of their botched responses to the virus was to try to comfort oneself with the discomfiting reminder that things can always get worse. They also fit the familiar narrative according to which authoritarian states are always less secure, less prepared, and more imperiled than developed democracies. </p><p>Yet these outlandish and dangerous attempts to deny the spread of the virus share the same logic as recent pronouncements from the White House. President <keyword id="6354484" type="PERSON" weightage="60" keywordseo="Donald-Trump">Donald Trump</keyword> has <a href="https://www.businessinsider.com/donald-trump-bleach-company-warns-disinfectant-wont-cure-coronavirus-dettol-2020-4">touted</a> no shortage of <a href="https://www.nytimes.com/2020/04/06/us/politics/coronavirus-trump-malaria-drug.html">false cures</a>. First it was malaria pills, <a href="https://www.bbc.com/news/world-us-canada-52399464">then</a> it was bleach and sunlight.</p><p>At the White House's daily press briefings, epidemiological expertise is no sooner presented to the public than it is denied or contradicted, in a kind of crude, real-time performance of the decline of <keyword id="1865540" type="PERSON" weightage="60" keywordseo="American-Exceptionalism">American exceptionalism</keyword>. Meanwhile, the US death count continues to be <a href="https://www.nytimes.com/2020/05/04/us/coronavirus-live-updates.html?action=click&amp;module=Spotlight&amp;pgtype=HomepageHomepage">revised</a> upwards. </p><p><div type="image" title="trump fauci" height="1649" width="2198" msid="75647693" hostid="261"></div></p><p>If there is one constant theme of the American story, it is the illusion that we are better than everyone else. The US comes to the aid of failed states; it is not one <a href="https://www.theatlantic.com/magazine/archive/2020/06/underlying-conditions/610261/">itself</a>. It is remarkable how quickly this simple belief can go from being a statement to a question, a matter for <a href="https://www.nationalreview.com/2020/04/the-failed-state-canard/">debate</a>. </p><p> "This is breathtaking — no pun intended — what's happening with COVID-19," said Marguerite Pappaioanou, a career epidemiologist and veteran of the CDC and the FDA, of the situation in the US. The pandemic preparedness efforts that she spent her career working on have been disassembled and defunded during the Trump administration. </p><p>"We are the rogue country in my estimation, at this point," she told me. "We are the outlier."</p><p><em>Linda Kinstler is a writer based in Berkeley, CA, and a contributing editor at <a href="https://www.theballot.world/about" target="_blank" rel="noopener">The Ballot</a>. Her writing has appeared in The Guardian, The Atlantic, Businessweek, The Economist, and more.</em></p>Read the original article on <a href="https://www.businessinsider.com/american-coronavirus-failures-global-response-2020-5">Business Insider</a>

The US coronavirus response has finally shattered the myth of American exceptionalism

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty Images / Thomas Peter-Pool</span></p></div><p></p></div></div></p><ul class="summary-list"><li>A trade war between the US and China has been heating up this year, with the US levying tariffs on $250 billion of imported goods from China and China retaliating with tariffs on $110 billion of US goods.</li><li>Tariffs can increase the price of goods, which can have serious economic effects.</li><li>Several economists and business groups have warned that higher prices from tariffs can hurt American firms and consumers, but the Trump administration continues to defend its policies.</li><li>Experts predict that some of the first prices to rise will be on <span>computers and computer parts, furniture, and tires.</span></li></ul><p>A trade war between the US and China has been heating up for much of this year, and it could have huge impacts on the US economy.</p><p>President Donald Trump's administration has <a href="https://www.businessinsider.com/trump-china-trade-war-tariff-chinese-goods-2018-9?IR=T">levied tariffs on a total of $250 billion of imported goods from China</a>. That represents about half of all imports from China.</p><p><a href="https://www.businessinsider.com/trade-war-china-to-retaliate-to-fresh-trumps-200-billion-tariffs-2018-9?r=UK&amp;IR=T">China has retaliated</a> by announcing tariffs on $110 billion of US exports.</p><h2>Tariffs affect the economy</h2><p>Both Trump's tariffs on China and China's retaliatory tariffs are likely to impact the economy in various ways. At the most basic level, tariffs increase the prices of goods, directly by making imported goods more expensive via the imposed tax, and indirectly by allowing domestic manufacturers who do not have to pay the tariff to charge higher prices.</p><p>Indeed, that latter effect is the main argument in favor of tariffs: By being able to charge higher prices, domestic producers can theoretically become more profitable and invest more in factories and workers.</p><p>However, those higher prices can either be passed on to consumers or absorbed by companies buying intermediate products, which can cause economic harm.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Frank Polich</span></p><p class="caption">Ford has said that tariffs on steel and aluminum imports will likely cost the company $1 billion.</p></div><p></p></div></div></p><p>For example, Ford says that a separate set of tariffs on steel and aluminum imposed by the Trump administration this spring will likely cost the automaker $1 billion, <a href="https://www.cbsnews.com/news/ford-ceo-steel-aluminum-tariffs-will-cost-automaker-1-billion/">according to a CBS News report</a>.</p><h2>Higher prices could hit consumers' wallets</h2><p>The <a href="https://www.businessinsider.com/trump-china-trade-war-tariff-chinese-goods-2018-9?IR=T">most recent set of tariffs against Chinese imports</a>, which went into effect at the end of September, targeted around $200 billion of goods with a 10% tax scheduled to increase to 25% on January 1, 2019.</p><p>Unlike earlier rounds of tariffs that mostly targeted materials and intermediate goods, about a quarter of the new tariffs target consumer goods directly, according to <a href="https://piie.com/blogs/trade-investment-policy-watch/trump-and-china-formalize-tariffs-260-billion-imports-and-look">an analysis by the Peterson Institute for International Economics</a>.</p><p>Those tariffs could have an even more direct impact on Americans' wallets than the <a href="https://www.businessinsider.com/trump-china-tariff-full-list-of-goods-products-2018-6">earlier round of tariffs</a>, which were mostly against industrial products and intermediate goods.</p><p>Some of the <a href="https://www.businessinsider.com/trump-tariff-china-trade-war-products-that-will-get-the-hardest-2018-9">goods that are likely to be hardest hit by the newer tariffs</a> include computers and computer parts, furniture, and tires.</p><p>Economists, including Ian Sheperdson of Pantheon Macroeconomics, suggest that <a href="https://www.businessinsider.com/trump-tariff-china-trade-war-consumer-goods-2018-9?r=UK&amp;IR=T">consumers could see price increases</a> as a result of tariffs on those goods.</p><p>"<span>We don't know for sure how quickly importers will raise wholesale prices of the affected items, or how quickly manufacturers of substitutes for Chinese products will lift their prices," Sheperdson wrote in a note to clients. </span></p><p><span>Sheperdson estimated that the newer round of tariffs could add as much as 0.5% to the headline CPI inflation rate.</span></p><p><span>An <a href="https://www.ntu.org/foundation/detail/trump-trade-taxes-will-exceed-obamacare-taxes-next-year">analysis by the National Taxpayers Union Foundation</a> suggested that the full impact of the 25% tariffs beginning in 2019 would hit Americans harder than the total taxes levied under the Affordable Care Act, better known as Obamacare.</span><span></span></p><p><span>Retailers have also warned that the <a href="https://www.businessinsider.com/jcpenney-tariffs-retail-apocalypse-2018-9">tariffs could increase prices for consumers</a> and threaten the retail industry.</span></p><p><span> JCPenney counsel David M. Spooner wrote a <a href="https://www.regulations.gov/document?D=USTR-2018-0026-5572">letter dated September 6</a> to US Trade Representative Robert Lighthizer warning that "No retailer will be able to simply absorb the cost of a 10% percent tariff, much less a 25% tariff in today's ultracompetitive retail environment. That means consumers will pay higher prices."</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Reuters</span></p><p class="caption">Walmart has warned of price increases for consumers.</p></div><p></p></div></div></span></p><p><span><a href="https://www.businessinsider.com/trump-tariff-china-trade-war-walmart-letter-2018-9">Walmart wrote a similar letter</a> to Lighthizer, warning "Either consumers will pay more, suppliers will receive less, retail margins will be lower, or consumers will buy fewer products or forego purchases altogether." </span></p><p><span>Walmart included a <a href="https://www.businessinsider.com/walmart-products-hit-hardest-by-trump-china-trade-war-2018-9">list of specific items</a> that it's particularly concerned about, including luggage, gas grills, and HDMI cables.</span></p><h2><span>Business groups are worried</span></h2><p><span><a href="https://www.businessinsider.com/trump-china-trade-war-third-tariff-attacked-by-gop-democrats-business-2018-9">Several industry groups also have warned</a> of increased prices and threats to US firms resulting from the trade war. </span></p><p><span>Matthew Shay, president and CEO of the National Retail Federation said, "with these latest tariffs, many hardworking Americans will soon wonder why their shopping bills are higher and their budgets feel stretched." </span></p><p><span>Jay Timmons, the National Association of Manufacturers' president and CEO, called for increased trade talks to cool down the trade war. </span></p><p><span>"Now is the time for talks-not just tariffs-and manufacturers have laid out a blueprint to reset the US-China commercial relationship that will result in ending China's unfair and anti-competitive behavior," Timmons said.</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Scott Olson/Getty Images</span></p><p class="caption">Farmers are at risk of being hurt by retaliatory tariffs against agricultural goods like soybeans.</p></div><p></p></div></div></span></p><p><span>Casey Guernsey, a seventh-generation farmer and spokesperson for Americans for Farmers and Families pointed out that the uncertainty surrounding the trade war could interfere with farmers' plans for the future. </span></p><p><span>Guernsey said, "as trade tensions escalate, and our ability to sell our goods to major markets diminishes, we're having to make long-term business decisions that could affect our farms for generations."</span></p><p><span>During testimony in August to US trade officials, <a href="https://markets.businessinsider.com/news/stocks/trump-tariffs-manufacturing-sector-testifies-on-trade-war-with-china-2018-9-1027518683#1">several smaller manufacturers</a> warned of the potential damage from a trade war. </span></p><p><span>John McCann of MEC Aerial Work Platforms in Kernan, CA painted a stark picture, saying "tariffs will cause layoffs, lives will be devastated, the hope and optimism that comes from meaningful work will be gone."</span></p><p><span>JPMorgan CEO Jamie Dimon argued in a CNBC interview that there <a href="https://www.businessinsider.com/jamie-dimon-trump-tariffs-china-trade-war-business-economy-2018-9">could be further indirect consequences</a> of a trade war beyond immediate price increases, as economic confidence and investor planning could be shaken. </span></p><p><span>"The real negative isn't that - it's confidence, consistency. If people start reducing investment, if people start moving their supply chains around, that we have seen already moves the markets a little bit," Dimon said.</span></p><h2><span>Trump has pushed back</span></h2><p><span>The Trump administration has pushed back against criticism of the tariffs. <a href="https://www.businessinsider.com/trump-china-trade-war-wilbur-ross-tariff-price-increase-2018-9">Commerce Secretary Wilbur Ross</a> suggested that price increases from the nascent trade war would go unnoticed by most Americans. </span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Joe Raedle/Getty Images</span></p><p class="caption">Commerce Secretary Wilbur Ross has defended the tariffs.</p></div><p></p></div></div></span></p><p><span>Ross said, "Well, you can do the numbers this way if you have a 10% tariff on another $200 billion, that's $20 billion a year. That's a tiny, tiny, tiny fraction of 1% total inflation in the US, because it's spread over thousands and thousands of products. Nobody's going to actually notice it at the end of the day."</span></p><p><span>Trump himself weighted in, saying at a <a href="https://www.businessinsider.com/trump-on-tariff-china-trade-war-no-effect-on-economy-2018-9">New York City press conference</a> that "a lot of money is coming into our coffers. And it's had no impact on our - absolutely, by the way - no impact on our economy which I said it wouldn't."</span></p><h2><span>China retaliates</span></h2><p><span>As a response to the September round of tariffs, <a href="https://www.businessinsider.com/trade-war-china-to-retaliate-to-fresh-trumps-200-billion-tariffs-2018-9?r=UK&amp;IR=T">China imposed retaliatory tariffs</a> on about $60 billion of US exports to China, representing about 85% to 95% of the total goods export trade from the US to that country.</span></p><p><span>Retaliatory tariffs are the second big threat from a trade war, after domestic price increases. By making American goods more expensive in Chinese markets, US exporters are placed at a disadvantage to producers in China and other countries.</span></p><p><span>The full impact of a trade war between the US and China is likely to be felt across the country, but <a href="https://www.businessinsider.com/trump-china-tariff-trade-war-states-map-hurt-2018-8">unequally among different states</a>. Total goods trade with China - both imports and exports - adds up to 7.6% of the total size of Tennessee's economy, and 6.4% of each of the economies of California and Washington state.</span><span></span></p><p><span><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Andy Kiersz/Business Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5b86945864dce81c008b56ba-960/trade-with-china-as-percent-of-gdp.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Andy Kiersz/Business Insider</span></p></div><p></p></div></div></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/is-activated-charcoal-safe-for-eat-drink-teeth-whitening-2018-9">What activated charcoal actually does to your body</a></h3>        <div>                    </div>    </div>

Here's exactly how Trump's trade war with China could affect you

We slept on the new hybrid mattresses from Leesa and Casper to see which one is the best - and Leesa won with its strong edge support and minimal motion transfer

<p><table class="image-container float_right" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://live.wsj.com/video/cio-network-meg-whitman-on-hp-turnaround/95D5C049-807F-4BCE-A481-1B668F0DC96D.html#!95D5C049-807F-4BCE-A481-1B668F0DC96D">Wall Street Journal CIO Network</a></p><p class="caption">HP CEO Meg Whitman</p></td></tr></table>HP just announced its latest <keyword id="6357061" type="UNKNOWN" weightage="60" keywordseo="earnings">earnings</keyword> for the quarter ending January 2013.</p>
<p>HP announced .82 EPS and <br />$28.63 billion in revenue.</p>
<p>That's a nice beat!</p>
<p>But analysts didn't have high  expectations. They were looking for $27.79 billion in revenue, a 7.5% decline, and 71 cents earnings per share from the year ago quarter. </p>
<p>But revenue declined in nearly every business unit. So it's hard to tell if the company has hit bottom yet.</p>
<p>The last two quarters the company shocked the world with bad news. First it took an $8 billion write down of goodwill on its <a href="http://www.businessinsider.com/hps-8-billion-write-off-is-really-good-news-in-disguise-2012-8">$13.9 billion EDS acquisition</a>. Then it took an $8.8 billion writedown from its $11 billion acquisition of Autonomy, and <a href="http://www.businessinsider.com/autonomy-accounting-fraud-allegations-explainer-2012-11">accused Autonomy executives of $5 billion worth of fraudulent accounting</a>.</p>
<p>And prior to that HP offered up more bad news: it embarked on a massive multi-year layoff of just under 10% of its workforce, <a href="http://www.businessinsider.com/hp-to-cut-2000-more-jobs-2012-9">or 29,000 people</a>.</p>
<p>Here's <a href="http://www.marketwire.com/press-release/hp-reports-first-quarter-2013-results-nyse-hpq-1759967.htm">the full press release</a>. We've posted part of it below:</p>
<p>PALO ALTO, CA--(Marketwire - Feb 21, 2013) - HP (NYSE: <a href="http://www.marketwire.com/news_room/Stock?ticker=HPQ">HPQ</a>)</p>
<ul style="list-style-type: disc;">
<li>First quarter non-GAAP diluted earnings per share of $0.82, down 11% from the prior year, above previously provided outlook of $0.68 to $0.71</li>
<li>First quarter GAAP diluted earnings per share of $0.63, down 14% from the prior year, above previously provided outlook of $0.34 to $0.37 per share</li>
<li>First quarter net revenue of $28.4 billion, down 6% year over year and down 4% when adjusted for the effects of currency</li>
<li>Cash flow from operations of $2.6 billion, up 115% from the prior year</li>
<li>Returned $511 million in cash to shareholders in the form of dividends and share repurchases</li>
<li>Improved company net debt position for the fourth consecutive quarter by over $1 billion</li>
</ul>
<p><strong>HP first quarter fiscal 2013 financial performance </strong></p>
<div class="scroll_table">
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<td style="width: 1%; text-align: left;"> </td>
<td style="width: 4%; vertical-align: middle; text-align: left;" colspan="2"><strong>Q1 FY13</strong></td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 5%; vertical-align: middle; text-align: left;" colspan="2"><strong>Q1 FY12</strong></td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
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<td style="width: 12%; vertical-align: middle; text-align: left;"><strong>Y/Y</strong></td>
<td style="text-align: left; width: 3%; vertical-align: bottom;"> </td>
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<td style="text-align: left; width: 54%; vertical-align: middle;">GAAP net revenue ($B)</td>
<td style="width: 1%; text-align: left;"> </td>
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<td style="width: 12%; vertical-align: middle; text-align: left;">$28.4</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$30.0</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(6%)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
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<td style="text-align: left; width: 54%; vertical-align: middle;">GAAP operating margin</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$6.2</td>
<td style="text-align: left; width: 1%; vertical-align: middle;">%</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">6.8</td>
<td style="text-align: left; width: 1%; vertical-align: middle;">%</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(0.6 pts.)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
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<td style="text-align: left; width: 54%; vertical-align: middle;">GAAP net earnings ($B)</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$1.2</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
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<td style="width: 12%; vertical-align: middle; text-align: left;">$1.5</td>
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<td style="width: 12%; vertical-align: middle; text-align: left;">(16%)</td>
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<td style="text-align: left; width: 54%; vertical-align: middle;">GAAP diluted EPS</td>
<td style="width: 1%; text-align: left;"> </td>
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<td style="width: 12%; vertical-align: middle; text-align: left;">$0.63</td>
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<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$0.73</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(14%)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
</tr>
<tr>
<td style="text-align: left; width: 54%; vertical-align: middle;">Non-GAAP operating margin</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">7.9</td>
<td style="text-align: left; width: 1%; vertical-align: middle;">%</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">8.6</td>
<td style="text-align: left; width: 1%; vertical-align: middle;">%</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(0.7 pts.)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
</tr>
<tr>
<td style="text-align: left; width: 54%; vertical-align: middle;">Non-GAAP net earnings ($B)</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$1.6</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$1.8</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(12%)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
</tr>
<tr>
<td style="text-align: left; width: 54%; vertical-align: middle;">Non-GAAP diluted EPS</td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$0.82</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 1%; vertical-align: bottom; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">$0.92</td>
<td style="text-align: left; width: 1%; vertical-align: bottom;"> </td>
<td style="width: 1%; text-align: left;"> </td>
<td style="width: 12%; vertical-align: middle; text-align: left;">(11%)</td>
<td style="text-align: left; width: 3%; vertical-align: middle;"> </td>
</tr>
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</table>
</div>
<p>Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.</p>
<p>HP today announced financial results for its first fiscal quarter ended Jan. 31, 2013. First quarter GAAP diluted earnings per share (EPS) was $0.63, down from $0.73 in the prior-year period and above its previously provided outlook of $0.34 to $0.37 per share. First quarter non-GAAP diluted EPS was $0.82, down from $0.92 in the prior-year period and above its previously provided outlook of $0.68 to $0.71 per share. First quarter non-GAAP earnings information excludes after-tax costs of $373 million, or $0.19 per diluted share, related to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges. For the first quarter, net revenue of $28.4 billion was down 6% year over year and down 4% when adjusted for the effects of currency.</p>
<p><em>"We beat our non-GAAP diluted EPS outlook for the quarter by $0.11 per share, driven by improved execution, improvement in our channel and go-to-market efforts and the impact of the restructuring program we announced in May 2012," said </em><a href="http://ctt.marketwire.com/?release=988292&amp;id=2651452&amp;type=1&amp;url=http%3a%2f%2fwww8.hp.com%2fus%2fen%2fcompany-information%2fexecutive-team%2fmeg-whitman.html"><em>Meg Whitman</em></a><em>, HP president and chief executive officer. "While there's still a lot of work to do to generate the kind of growth we want to see, our turnaround is starting to gain traction as a result of the actions we took in 2012 to lay the foundation for HP's future." </em></p>
<p><em>...</em></p>
<p><strong>First Quarter Fiscal 2013 Segment Results</strong></p>
<ul>
<li><strong>Personal Systems </strong>revenue was down 8% year over year with a 2.7% operating margin. Commercial revenue decreased 4%, and Consumer revenue declined 13%. Total units were down 5% with Desktops units up 10% and Notebooks units down 14%.</li>
<li><strong>Printing </strong>revenue declined 5% year over year with a strong operating margin of 16.1%. Total hardware units were down 11% year over year. Commercial hardware units were down 6% year over year, and Consumer hardware units were down 13% year over year.</li>
<li><strong><keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">Enterprise</keyword> Group </strong>revenue declined 4% year over year with a 15.5% operating margin. Networking revenue was up 4%, Industry Standard Servers revenue was down 3%, Business Critical Systems revenue was down 24%, Storage revenue was down 13% and Technology Services revenue was down 1% year over year.</li>
<li><strong>Enterprise Services</strong> revenue declined 7% year over year with a 1.3% operating margin. Application and Business Services revenue was down 9% year over year, and IT Outsourcing revenue declined 6% year over year.</li>
<li><strong>Software</strong> revenue was down 2% year over year with a 17.0% operating margin. Support revenue was up 11% while license revenue was down 16% and services revenue was down 8% year over year.</li>
<li><strong>HP Financial Services</strong> revenue grew 1% year over year as a 1% increase in net portfolio assets was offset by a 25% decrease in financing volume. The business delivered a 10.6% operating margin.</li>
</ul>

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