Trump’s trade war will only have losers. And the biggest loser may be Trump

In the great tradition of reality television, the winners and losers from Donald Trump’s “liberation day” tariff announcement were kept secret until the last moment. Except that there weren’t any winners, just losers and bigger losers. There wasn’t even a pretence of this being a necessary but regrettable policy.

The countries that would be punished deserved everything they were getting. They had pillaged and robbed, looted and raped (metaphorically) innocent Americans for decades and now America would take its revenge. Trump recited all the industries — old and new — which had been undermined by these assaults on the population which had been pauperised by foreigners.