My tweets on protectionism

I am against protectionism... but... and

All trade deficits are not created equal
If a nation has a trade deficit resulting from importing too much of tomorrow’s goods and exporting too little of yesterday’s, that deficit is worse than if importing too much of yesterday’s goods and exporting too little of tomorrow’s

All capital surpluses are not created equal
If foreigners invest too little in your nations’ current existing assets, and too much in your tomorrows’, that capital surplus is not as good as if they invest much in your current existing assets, and less in your assets of tomorrow.

Are not nations who retaliate against the imposition of tariffs by imposing their own tariffs just as protectionist as those who started imposing tariffs?