Surprised stock markets fell in response, with the S&P 500 down 4% over the first week of the renewed trade war. US trade policy is a hot mess of conflicting goals. The incoherence of Trump’s trade policies is even more worrying on closer inspection. As a result, Trump has come close to accomplishing something seemingly impossible: tariffs that benefit almost no one. Trump’s tariffs against Chinese goods do not fit this theory.

Source: The Guardian May 23, 2019 10:41 UTC