Trade lunacy is back

The Trump campaign proposes to use import tariffs as weapons in a trade war. But this strategy backfired badly in 2018. Why would it work in 2025?

It’s election season in the U.S., marred only by the minor complication of a criminal trial involving one of the candidates. Trump is on the campaign trail, and he is going big on trade policy. Or rather, trade lunacy.

Here’s Gavin Bade at Politico attempting to explain Trump’s trade policy:

Trump is considering a 10 percent universal import tariff, the …