The Globe and Mail reports in its Saturday, March 8, edition that the world's stupidest trade war shows no signs of letting up. The Globe's Ian McGugan writes that even if President Donald Trump further postpones some or all of his tariffs on Canadian and Mexican goods in the weeks ahead, the possibility of more sudden, unpredictable bursts of U.S. hostility is going to continue to undermine the North American economy. Just as damaging is Mr. Trump's willingness to torch the pillars of global stability. By throwing Ukraine to the Russian wolf, walking away from European allies and cozying up to Vladimir Putin, he is incinerating the trust that Washington has built up over generations. Mr. Trump is demonstrating that no country can count on the United States to be a reliable friend. Mr. McGugan says Mr. Trump's crackpot economic beliefs have left respectable economists gaping. They keep trying to correct his falsehoods. Despite what the President insists, a trade deficit is not a "subsidy." Mr. McGugan says a nation is not made richer by erecting comprehensive trade barriers. Mr. McGugan says Mr. Trump's policies are not only brainless, they are unpredictably brainless, and are deeply destabilizing to his own economy.
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