Trump’s economic Waterloo, however, is trade. Trump always has prided himself on negotiating and deal making, yet unencumbered trade does not need the US Government cutting “deals” with other nations. It needs the government to get out of the way.
While Trump claims he only wants “fair trade,” nonetheless he is flirting with creating some world-wide trade disasters, and the last time this happened during the early 1930s, the results were catastrophic. Part of the problem is that Trump thinks like a Mercantilist, believing that a nation’s survival depends upon the value of exports being greater than imports.