Trade Truths Will Outlast Trump

This article was originally published on this site

Trade was central to Donald Trump’s 2016 campaign. He saw trade as a win-lose, zero-sum proposition, blaming trade deficits for deindustrializing the American heartland, calling the North American Free Trade Agreement “a disaster,” and condemning China for unfair trade practices. He thought getting tough on trade would give him the leverage to get better deals.

President Trump called himself a “tariff man” and imposed 25% levies on imported steel and aluminum while launching a trade war against China. He pulled out of the…