Economic Affairs

Trump's art of deal won't work for trade

Outrageous statements and a real estate tycoon's zero-sum view of a bargain can end up hurting the United States more than it hurts its trade partners.

In his 1987 book, The Art Of The Deal, the then New York property developer Donald Trump tells the story of how he bought a Boeing 727 at a bargain price.

The going price of the plane in the market was estimated at US$30 million. Mr Trump offered US$5 million. The seller counter-offered the plane at US$10 million. At that point, Mr Trump knew that no matter what the final price would be, he had got himself a terrific deal. He ended up buying the plane for US$8 million.

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A version of this article appeared in the print edition of The Straits Times on April 04, 2018, with the headline 'Trump's art of deal won't work for trade'. Print Edition | Subscribe