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WASHINGTON, D.C. — “‘Tariffs’ is the most beautiful word to me in the dictionary,” President Donald Trump liked to say early last year, calling it his favourite word and promising they would help usher in a new “golden age” for America. He was serious.  His administration has imposed tariffs against nearly every other country in the world, either through baseline duties, stacked “reciprocal” charges, product-specific tariffs, or national‑security measures related to fentanyl trafficking imposed under the International Emergency Economic Powers Act. In response, world leaders have...