Trump’s guiding principle seems closer to that of Mao Zedong

Donald Trump has dusted off William McKinley ’s century-old economic nationalism.

But this weird pantomime of a president who has been dead for 12 decades is inaccurate.

Trump does not actually resemble McKinley , the popular promoter of US enterprise who sought an “open door” for Chinese trade.

In practice, Trump 's guiding principle seems closer to that of Mao Zedong .

Donald Trump has harnessed this impulse to use tariffs as a blunt instrument that is easily grabbed.

Trump has four goals he can pursue using tariffs: to bring offshored manufacturing back to the US ; to make deals; to reduce the power of China ; and to raise money.

The US can afford to gamble with a reordering of the global trade system because it is exposed to the risks of trade disruption.

China has been preparing for this for the better part of a decade and a half , says Grozoubinski .

The US accounts for 15 per cent of China ’s exports, but these exports are equal to less than 3 per cent GDP.

Trump will soon be hearing from small-business owners across the US who source parts from China .