Trumponomics 2.0 will erode the foundations of America’s prosperity

Was it JUST a false alarm? The panic about the world economy that followed President Donald Trump’s “Liberation Day” tariffs in April has given way to growing optimism. Tariffs’ inflationary effect has so far been muted. In private, bosses say they now expect trade fights to produce trade deals, not to be an end in themselves. Surveys show that business and consumer confidence, though low, is improving. The S&P 500 index of stocks has hit a record high.