President Trump’s simultaneous trade wars with Canada, Mexico, China and the European Union amount to a huge economic and political gamble: that Americans will endure months or years of economic pain in return for the distant hope of re-industrializing the American heartland.
It is enormously risky. In recent days, Mr. Trump has acknowledged, despite all his confident campaign predictions that “we are going to boom like we have never boomed before,” that the United States may be headed into a recession, fueled by his economic agenda. But in public and private he has been arguing that “a little disturbance” in the economy and the markets is a small price to pay for bringing manufacturing jobs back to America.
America is a very resilient nation making economic recovery a matter of sooner rather than later.
