Trump Trade speech Bill Pugliano/Getty Images .

Preparing for the Trump Trade Wars

In the first 11 months of his presidency, Donald Trump has failed to back up his words – or tweets – with action on a variety of fronts. But the rest of the world's governments, and particularly those in Asia and Europe, would be mistaken to assume that he won't follow through on his promised "America First" trade agenda.

LONDON – Is US President Donald Trump what Maoists used to call a paper tiger, or should his noisy threats be taken seriously? That question has loomed particularly large over the North Korean nuclear issue. But after Trump’s fairly emollient 12-day tour of Asia, fears of a conflict on the Korean Peninsula have ebbed somewhat.

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