As I write this column, the world has experienced the latest flight of fantasy and fancy that typifies the administration of Donald Trump: tariff mania! Trump enacted tariffs on most nations of the world, exempting Canada and Mexico for now. The latter following his shootout of little consequences with them. Trump also dialed up tariffs on China. Predictably, the markets didn’t smile at these moves. Exchanges across the world saw sharp downturns. Investors and citizens now have more uncertainty than in recent memory about the world economy. Most bets are for a recession, sooner rather than later. A recession will mean Trump’s MAGA (“Make American Great Again”) legacy has a bad mark, perhaps a defining one. Donald Trump is up to his usual sophistry and charlatan’s games. He doesn’t have a playbook. Little he does makes sense under the eyes of reason or rationality. His goal is to make deals that will enable him to say, “I won for you, and America is great again!” This doesn’t even have to be true. It just needs to convince enough dubious Americans in his base that he
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