Donald Trump is hijacking the tariff strategy his party wrote – and Washington, and Wall Street, are in turmoil

News Snapshot:

Open this photo in gallery: Photo illustration by the Globe and Mail/iStockPhoto / Getty Images In the run-up to the 2024 U.S. presidential election, the Heritage Foundation, a deeply conservative think tank in Washington, D.C., put together a transition bible for a Republican president, something they called “an agenda prepared by and for conservatives who will be ready on day one of the next administration to save our country.” Scores of policies were proposed in Project 2025’s 900 pages, including a tariff strategy for “fair trade.” The author of this section, Peter Navarro – the architect of Mr. Trump’s first-term...