The return of Tariff Man, which Trump has proudly called himself, exposes the flawed trade logic at work here. It is impossible to fight trade wars, especially on multiple fronts, without harming the world's interconnected economy.
New York President Donald Trump, armed with sweeping tax cuts and a handpicked Federal Reserve chief, confidently told the world in March 2018 that "trade wars are good, and easy to win."
Nearly two years later, the United States is bogged down in a trade war with China -- a battle that may erupt just in time for Christmas. Trump, who has proudly called himself Tariff Man, suggested Tuesday that a trade agreement with China may not happen until after the 2020 election. That warning dashed hopes on Wall Street for imminent trade peace, driving the Dow 450 points, or 1.5%, lower. And just this week Trump opened several new fronts in the global trade war.
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