Tariffs and trade are back in the news. Last Friday’s decision by the US Supreme Court to strike down Donald Trump’s liberation day tariffs was momentous. It was the clearest sign yet that the in-built checks and balances on executive power still work in the world’s greatest democracy in its 250th year, despite the autocratic tendencies of the current executive in chief. For the rest of the world, the significance is economic. Let’s return to those issues presently, but first, look at wider global and European trade issues. Shipping stuff across seas and oceans is the original form of globalisation.…

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