The Dangerous Absurdity of America’s Trade Wars
US President Donald Trump’s trade policies not only seek to improve America’s external balance, but also represent a misguided attempt to contain China and even to weaken Europe. Seen in this context, Trump’s misconceived trade wars are nearly as predictable as the macroeconomic imbalances they have so spectacularly failed to address.
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NEW YORK – Don Quixote fought windmills. US President Donald Trump fights trade deficits. Both battles are absurd, but at least Quixote’s was tinged with idealism. Trump’s is drenched in enraged ignorance.