Trump will jack up tariffs - waging trade wars in both Asia and Europe

And the domestic consequences could be severe. Many of Mr. Trump’s economic advisers, including the former trade chief Robert Lighthizer (a leading candidate to be the Treasury secretary under Mr. Trump), are apparently intent on pursuing the Great Depression redux — waging trade wars with Europe and Asia. They’re floating a host of other risky measures, including  the independence of the Federal Reserve, weakening the dollar to try to increase exports and imposing high tariffs on goods from China and Europe.