Our cover this week warns against the damage that will be inflicted by America’s impending tariffs on steel and aluminium. For the first time in decades, America has a genuine protectionist in the Oval Office. Donald Trump could cause a trade war by invoking a spurious rationale that others will copy. The World Trade Organisation, already under strain, will be unable to stop it. Not since its inception after the second world war has the global trading system faced such danger

Our cover this week warns against the damage that will be inflicted by America’s impending tariffs on steel and aluminium. For the first time in decades, America has a genuine protectionist in the Oval Office. Donald Trump could cause a trade war by invoking a spurious rationale that others will copy. The World Trade Organisation, already under strain, will be unable to stop it. Not since its inception after the second world war has the global trading system faced such danger