Why is America undercutting Japan?

UNTIL 2017, America’s trade policies were reasonably well-aligned with its strategic objectives. The United States was the world’s largest economy, with unrivalled military power, and its alliances with European countries and others bolstered security and underwrote prosperity for all.

It also provided global leadership through bodies like the World Trade Organization, ensuring a common rule-of-law framework to support economic growth and cross-border exchange around the world.

Then came Donald Trump, who ushered in an era of US protectionism, unnecessarily alienating many friends and allies. His successor, Joe Biden, has attempted to repair some of the damage, but he has not reversed many key elements of Trump’s trade policies.