Trump and Xi’s mutual march of trade folly

News Snapshot:

Mr Biden patiently explains that US security lies in its alliances. Mr Trump would cut his own deals with fellow strongmen and cut allies adrift along with causes like Ukraine. Both Mr Trump and Mr Biden are protectionists. But Mr Trump wants to build a self-sufficient America behind a 10 per cent tariff wall on goods coming to the US from anywhere and to phase out many Chinese imports for good, believing wrongly that trade balances and China are behind America’s problems. What worked when China was smaller and had the tailwind of emerging globalisation won’t work now. That will...