The Tariff Boomerang

Trump’s illegal trade experiment, now forced to offer refunds.

There’s a certain poetic symmetry to what’s happening now. After years of insisting that tariffs would make America richer—paid for, somehow, by other countries—Donald Trump’s trade policy has come full circle. The U.S. government is preparing to hand back more than $166 billion to American businesses after the Supreme Court ruled those tariffs were ill…