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America First, Fallout Later

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NEW YORK – Like a sunbather bent on improving his tan, US President Donald Trump’s policy of always putting “America first” entails long-term costs that could easily outweigh the short-term benefits. Economic nationalism and protectionism may produce immediate industrial gains in some sectors, but they can also lead to bad outcomes that go well beyond trading partners’ predictable retaliation.

A lesson from US President Franklin........

© Project Syndicate