Trump brags that America is ‘winning so much.’ Without tariffs, “we could have seen more of the good news,” says IMF director

The U.S. economy remains the envy of the world in many respects, at least in President Donald Trump’s telling. But its lofty position is threatened by, among other things, America’s own chronic inability to keep a balanced budget, and the administration’s trade policy is part of what’s holding it back from doing so.

In his State of the Union address this week, Trump said the U.S. was “winning again, and in fact, we’re winning so much that we really don’t know what to do about it.” Despite suffering from low approval ratings...