India, April 8 -- Globalisation helped make the United States the most prosperous nation in history. But lots of Americans didn't feel that way, and accordingly voted to "liberate" themselves from it last November. Donald Trump is now delivering for them - and the consequences will reverberate across the globe.

"Now it is our turn to prosper," President Trump proclaimed on April 2 in the Rose Garden as he announced sweeping "reciprocal" tariffs ranging from 10% to 50% on almost every US trading partner (plus a fewuninhabited territories). China, labeled one of the "worst offenders," was hit with a 34% tariff on top of the 20% duties Trump had already levied in February and March, bringing its base rate to 54%. Japan, the European Union, ...