Second, Trump is threatening to put tariffs on U.S. allies like Canada and Mexico. This will deprive American manufacturers of the cheap parts and components they need to build things cheaply, thus making them less competitive against their Chinese rivals. It will also provoke retaliation from allies, limiting the markets available to American

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A growing number of countries, including American allies, are striking trade deals as the Trump administration erects a higher fence around its global commerce.

“There is no question that an American withdrawal from global trade – the gradual closure of the world’s largest consumer market and largest capital market – would impose significant costs at first on the rest of the world and eventually on the United States itself. If the United States retreats from its traditional role without agreeing on a new... See more