Trump Goes Crazy on Trade

Paul Krugman: “I guess it’s just possible that when we get details about the Trump tariffs they will be lower than what he just announced, but based on what he said, he’s gone full-on crazy. It’s not just that he appears to be imposing much higher tariffs than almost anyone expected. He’s also making false claims about our trading partners — not sure in this case whether they’re lies, because he may be truly ignorant — that will both enrage them and make it very hard to back down…”

“If you had any hopes that Trump would step back from the brink, this announcement, between the very high tariff rates and the complete falsehoods about what other countries do, should kill them.”