Donald Trumps approach to Vietnam reveals the conflict of interest between his trade policy and his private business interests, says Rainer Zitelmann

Donald Trump has said it time and time again: “To me, the most beautiful word in the dictionary is tariff. It’s my favorite word.” Over the years, Trump has expressed opposing opinions on just about everything. He has called for a massive one-time tax on the rich and universal health insurance provided by employers with subsidies for those in need – only to later advocate exactly the opposite. Between 1999 and 2012, Trump switched political parties seven times. Only in one respect has Trump remained true to himself: on the issue of tariffs. He used to blame the Japanese and the trade deficit with Japan for America’s economic problems. He has successfully garnered voter support by alternately blaming the Japanese, Germans, or Chinese, highlighting the negative US trade balance and calling for higher tariffs.

Why do politicians like Trump promote protectionist rhetoric when all historical evidence shows that no country has ever become more prosperous through protectionism? There are many possible reasons: economic ignorance (a phenomenon among representatives of all parties); the experience that protectionist promises can win votes; and the influence of lobbyists representing companies looking to........

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