The biggest economic risk of a Donald Trump Presidency has always been that his trade obsessions would swamp the benefits of tax reform and deregulation. For two years he has kept his worst protectionist impulses mostly in check, but as he seeks a second term we are now seeing Tariff Man unchained. Where he stops nobody knows, which is bad for the economy and perhaps his own re-election. Mr. Trump’s trade talks with China have broken down and both countries are escalating their rhetoric. The U.S. is blocking Huawei from buying...

Source: Wall Street Journal May 31, 2019 22:52 UTC