New Delhi, March 24 -- On the face of it, the chaotic action and frenetic pace of US President Donald Trump's first 50 days in office lack cohesive thought and direction. Dig deeper and a picture emerges of a potential 'framework' or 'grand design.'

Believers see two main reasons for a reset of the global trade order. The first is a deep-seated resentment that the United States has been subject to foreign subsidies, unfair trade practices and dumping of goods, and the second is a belief that the US has disproportionately shouldered the cost of the post-World War II security architecture for the rest of the world, particularly Europe and Japan. Consequently, the US has been running large trade deficits and its dollar has steadily strength...