William Reinsch: The New Trade Disorder
William Reinsch dissects Trump’s tariff strategy—framed as revenge, revenue, and reshoring—and its implications for the global trading system. He argues that while the U.S. is the greatest short-term threat to rules-based trade, Trump is unlikely to permanently remake the international order, even as resilience increasingly displaces efficiency as a core trade objective. Reinsch is sceptical of breakthrough U.S.–China trade deals, seeing recurring cycles of confrontation that ultimately favour China, while U.S. debates over export controls reflect uncertainty about how to compete with a…
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