Reprinted with permission from Creators.
Perfection is a rare achievement in Washington, so give Donald Trump credit for the trade policy he unveiled last week to put new tariffs on imports of steel and aluminum. It is perversely flawless in its disregard for factual reality, U.S. trade law and economic logic. It is all flies and no ointment.
The policy has two rationales, one official and one unofficial, which are alike in being either terribly misguided or consciously fraudulent. In reality, it is classic special-interest pandering, fleecing the many to enrich a favored few.
The official White House justification is that slapping new duties on these foreign metals is essential for our national security.…