On the day he launched a trade war, U.S. President Donald Trump doubled down on tariffs in a lengthy speech to Congress and prepared his nation for a period of upheaval.
He did not sound at all like a man looking to de-escalate. But away from the televised stage, a senior member of his team was working the phones, talking de-escalation.
“There’ll be a little disturbance,” is what Trump told U.S. lawmakers in his prime-time address Tuesday, alluding to jittery markets. “But we’re OK with that. There won’t be much.”
What’s clear is Trump remains committed to tariffs as a principle.
He promised repeatedly to use them to punish unfair trade practices, and also to push manufacturing back to the U.S., something he said carmakers and other major businesses are already doing.
His lines referring to tariffs on Canada and Mexico drew tepid applause, at best. They’ve also earned a thumbs down from …