Behind all the drama of President Donald Trump’s tariffs lies the hope that they serve some clear purpose for American and global trade. But Trump’s signature inscrutability makes it hard to discern what that purpose is—or whether one even exists.
Either way, his actions threaten to unravel the global trading system that has been in place for the past 80 years. That unraveling would bring economic and financial pain—but also potential upside, given that the current system is ultimately unsustainable.
