The Soaring Economic and Political Costs of Trump’s Incoherent Trade Policy

President Donald Trump delivers remarks on supporting American farmers, at the White House, Washington, May 23, 2019 (Photo by Kevin Dietsch for dpa via AP Images).
President Donald Trump delivers remarks on supporting American farmers, at the White House, Washington, May 23, 2019 (Photo by Kevin Dietsch for dpa via AP Images).

Almost every week of late, it seems something new, startling and historically unusual is happening in U.S. trade policy. President Donald Trump’s actions are undermining the credibility of American negotiators, increasing uncertainty for traders and investors, domestic and foreign, and potentially threatening to throw the economy into recession. This is all happening in part because Trump refuses to acknowledge that Americans pay the tariffs he likes so much, and also because he still doesn’t understand how global supply chains work. With so many head-spinning developments this spring, it can help to step back and take stock of where things stand, […]

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