President Donald Trump’s protectionist “America First” trade policy has stoked significant fear about the prospect of a trade war. Although certain aspects of his trade agenda so far have temporarily eased the concerns of business leaders and policymakers, Trump’s decision last week to withdraw from the Paris climate agreement should generate renewed anxiety over the stability of the international trading system. As president, Trump has walked back some of his most aggressive campaign promises on trade, such as imposing a 45 percent tariff on all imports from China. However, in addition to exiting the 12-country Trans-Pacific Partnership (TPP), Trump’s provocative […]
