US President Donald J. Trump may not like armed conflict, but he sure loves economic warfare, whether it is to impose his political will on countries, protect sectors of the U.S. economy, secure more preferential trade terms, or stop others from gaining technological advantage.
Mr. Trump’s liberal use of sanctions amounts to more than a penchant for economic warfare in an effort to create trade terms more advantageous to the United States. Economic warfare is the president’s strategy to shape a new world order that is likely to be multi-polar. Almost three years into Mr. Trump’s administration, it is proving to be a strategy with unintended consequences.
Mr. Trump is not the only leader to discover that the employment of trade, commerce, and investment as not only an economic but also political tool can be a double-edged sword. So is Chinese president Xi Jinping.