America’s middle class pays for economically illiterate populism President Trump believes he won his trade war because he raised US tariffs without triggering foreign retaliation. Much of the US media bought into this with headlines like: “Forget TACO. Trump Is Winning His Trade War” ( Wall Street Journal ) and “Trump Is Winning His Trade War. What Will That Mean for the Economy?” ( New York Times ). But really: America wins from tariffs? Did the journalists collectively misplace their