The more you believe Trump Always Chickens Out, the less chicken Trump becomes

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Open this photo in gallery: The TACO acronym, coined by Financial Times columnist Robert Armstrong, is a reference to U.S. markets remaining calm in spite of recent turmoil.Mark Schiefelbein/The Associated Press John Rapley is a contributing columnist for The Globe and Mail. He is an author and academic whose books include Why Empires Fall and Twilight of the Money Gods. Why did U.S. President Donald Trump raise steel and aluminum tariffs to 50 per cent this week? It may have something to do with a recent interaction that he did not like. “That’s a nasty question” growled Mr. Trump, clearly...