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  • The Trump administration’s introduction of sweeping protectionist measures was one of the defining economic-policy developments of 2018. By embracing a bilateral perspective on national current accounts, the US government has made it clear that it will risk the long-term costs of tariffs for the sake of short-term political goals.

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    mzhu3_SAUL LOEBAFPGetty Images_trump Saul Loeb/AFP/Getty Images

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