Donald Trump's tariffs will surely backfire

US president-elect Donald Trump appears committed to imposing high tariffs on imports to the United States -- or, at least, using the threat of tariffs to bend US trading partners to his will. Mr Trump now says he will enact a 25% tariff on all imports from Canada and Mexico on his first day in office and raise tariffs on goods from China by 10%. And he has previously advocated 60–100%...