Despite President Donald Trump claiming the the 1890s were a “golden age” — it wasn’t unless you were a robber baron. Economists around the globe have explained this in detail, but none of this has penetrated the groupthink in the Trump universe. Even those left-wing lunatics at J.P Morgan (yes, I’m joking) say Trump’s moves have increased the likelihood of a recession to 60%. There was no reason — beyond Trump’s need for revenge — for these tariffs. Tariffs need to be used precisely and in a limited fashion, otherwise they tend to backfire badly (as we’re seeing, as other countries refuse to cave to Trump).