India, April 1 -- Since his first presidential run in 2016, Donald Trump has championed a shift toward economic insularity. While his first term was marked by a protectionist agenda, he has taken it to new heights since returning to office on January 20 by making tariffs, trade wars, and nationalist rhetoric central to Washington's economic playbook.

The president and his advisors frame his America First trade policy as measures to protect American industry and jobs. This is a strategic miscalculation. America is fighting yesterday's battles while ignoring its most powerful current economic asset - its dominance in the global services economy.

Historically, the US has always stayed ahead of the global economic curve. It led the world in...