Would an all-out trade war be better?
The year is 2029 and Donald Trump has left the White House. Upon his successor’s shoulders rests the fate of the global trading system. The next president could end America’s one-sided tariff onslaught overnight, bringing down its effective trade-weighted tariff rate from the high teens to the 2% or so it sat at before Mr Trump got going. Surely the choice is an obvious one?
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