Trump Brings Britain’s ‘Moron Premium’ to the U.S. Economy
When Donald Trump launched his tariff war on April 2, lawmakers in Europe struggled to understand the strategy. Was it a bluff, or did he really mean to collapse global trade, stock markets, and the Western alliance in one reckless game of 4-D chess?
On April 9, however, the president discovered something that we in the United Kingdom already know: Against the bond market, there is only 2-D chess, and you always lose. Because the Brits have been here before.