Trump's Tariff Gambit: America's Self-Inflicted Economic Wound

Trump is actually stupider than I thought.

In his latest display of economic shortsightedness, Trump has unleashed a sweeping tariff plan that threatens to plunge the nation into a costly global trade war. His decision to slap 25% tariffs on steel and aluminum imports worldwide—with no exceptions even for longstanding allies—has already triggered swift and decisive retaliation from the European Union and Canada.

Hours after Trump's announcement, the EU unveiled countermeasures targeting $28 billion worth of American exports, while Canada announced $20.1 billion in retaliatory tariffs on U.S. goods. Trump's knee-jerk response? A vague promise to "respond," doubling down on a dangerous spiral of economic brinksmanship with no clear endgame.

The economic folly of this approach couldn't be more glaring. We've already seen this movie before. During Trump's first term, similar tariffs produced modest gains for steel producers while inflicting devastating costs on American manufacturers, reducing their output by over $3 billion accordi…