News Briefs

Jacob Schlesinger of the Wall Street Journal writes that President Trump’s plan to curb steel imports for “national security” reasons has the potential to destabilize the global trade regime. Schlesinger argues that U.S. trading partners will likely impose similar restrictions on U.S. exports in response to any steel import restrictions, which could lead to an all-out trade war. WSJ

The Wall Street Journal reports that financial market volatility has approached record lows around the world in recent months. The authors attribute this to healthy consumer spending and rebounding corporate profits, which have supported equity valuations worldwide. WSJ