While true, this is only half of the picture. Exporters “pay” through the products they can’t sell, because demand is shrinking. While most exporters can’t lower their prices much without making a loss this directly benefits low production cost countries like China.

In the end it’s a quadruple Eigentor (the German word for own goal) because you weaken your own country and your economic partners, isolate yourself on the global market and strengthen your enemies. Good job, America.