My new Washington Post column:

Donald Trump is, once again, making big promises on trade. If he is elected president in 2024, he says, he will impose new tariffs that will “end our gaping trade deficits,” “bring back millions of American jobs,” and “bring trillions and trillions of dollars pouring into the United States Treasury from foreign countries.” He says this influx of money will allow taxes on U.S. producers to come down. We just need to build on the successes of his administration.

These hopes are absurd. As a matter of policy, Trump’s record is largely one of failure. But his message has been politically successful and could be again.