1,2,3,4 — Trump declares a trade war

‘Whatever complicates the world more — I do,’ Donald Trump once said. As President, that still seems to be his mantra. Everybody knows that he feels America has been ripped off for decades when it comes to global trade — and that he intends address imbalances that hurt his country wherever he can.

But his abrupt decision to announce huge tariffs on steel and aluminium has sent shockwaves across the world. It has thrown global markets into a panic. It has caused division in his White House and put him at odds with his party establishment, which is ideologically committed to free trade and terrified of protectionism. It is vintage Trump, in other words. The great disruptor strikes again.

So what is he doing? Is he trying to soothe the base, the America Firsters, who might be upset at his moves towards gun control, by offering red-meat economic nationalism? Possibly.