‘Trade wars are good, and easy to win,” Donald Trump tweeted in March, and he likes them so much he has decided to open a third tariff front—this time against China, following his steel and aluminum tariffs against our allies, and his solar-panel and washing machine levies against the world. Don’t you just love the smell of price increases in the morning?
Mr. Trump slapped 25% tariffs on $50 billion of imports from China chosen by U.S. Trade Rep Robert Lighthizer. A trade lawyer for Big Steel by training, Mr. Lighthizer will...