When President Donald Trump announced a sweeping set of tariff increases on April 2, he predicted that date would be remembered as "the day that we began to make America wealthy again." Global investo...

President Donald J. Trump’s new tariffs could generate trillions of dollars in new federal government revenue over a decade, but the net gain would be reduced by the measures’ damaging effects on the ...

President Donald Trump touted his bewildering array of "Liberation Day" import tariffs as carefully calibrated to offset trade partners' tariff, nontariff, and currency barriers to US exports. However...

President Donald Trump has launched an all-out attack on the rules-based international order, which most governments regard as the bedrock of peace and prosperity[1]. Many governments are appalled by his initiatives[2]. They still believe in respecting trade rules, in limiting tax competition and in fighting global warming. The European Union, which is governed by such rules, has the potential to organise an effective collective response.

What Mr. Trump is doing with tariffs is a result of a lost consensus about how the United States should interact with other countries in the global economy.