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Trumpeting a global trade war

The US underpinned the liberal economic order. So what now in a world of America First?

By George Magnus   March 2017

Sad! Trump's thoughts on trade are clear ©Win McNamee/Getty Images/Illustration by Chris Tilbury

Often accused of being rambling or incoherent, in his inaugural address President Donald Trump did—for better or worse—have something substantial to say. He summed it up in the two-word slogan, “America First.” To the uninitiated, this might have sounded like typical new-president waffle that might be forgotten as quickly as the “thousand points of light” of George HW Bush’s 1989 inaugural. Those who know their American history, however, were not so easily soothed. For “America First” was also…

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