Stocks Aren't Wild About Crazy-Like-a-Fox Leaders
Even if Trump is a wily strategist rather than a blunderer, he's taking a big risk.
Figuring the angles on trade.
Photographer: Matt Cardy/Getty Images
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What should we make of the world stock market’s failure to set a new high just when it seemed within reach at last? To answer that, we might need to answer another question I asked in a column yesterday, about President Donald Trump’s ludicrous announcement that he would levy tariffs on Argentine and Brazilian steel imports to retaliate against those countries’ weak currencies. Did he do this to be “crazy like a fox,” in accordance with some bigger strategic plan? Or because he didn’t have a clue what he was talking about?