The war of fog Donald Trump’s on-again, off-again tariffs and shambolic policy-making has helped drive global economic policy uncertainty to record highs, according to one gauge. (Monthly Global Economic Policy Uncertainty Index) 500 400 300 200 100 0 2005 2010 ... Where to start? No, despite what the President insists, a trade deficit is not a “subsidy.” (Unless you believe that you’re somehow subsidizing your supermarket or your dentist by spending money on the things they provide.) No, despite his claims, you don’t make a nation richer by erecting comprehensive trade barriers. (If that worked, North Korea would be an...