Tariff chaos, policy missteps raise fears over US economic stability

US President Donald Trump’s management of economic policy has been a disaster. Previously, it would have been unfathomable for a president — including Mr Trump during his first term — to inflict so much harm on the economy deliberately. As alarmed as I am, though, I am not panicked. A recession remains unlikely, and equilibrating forces in the political system may soon apply the brakes to this madness.

 

Mr Trump’s campaign policy agenda had both pluses and minuses. While there were obvious flaws, much of what he wanted to do would have advanced prosperity. As recently as late January, I