Three things can happen when you throw the ball, legendary Ohio State football coach Woody Hayes once warned, and two of them are bad. Few figures in world history like going deep more than President Trump, and now the world is watching to see what happens to his latest Hail Mary on trade.
Mr. Trump, to be sure, is a certified miracle worker. In his first term he managed to turn dovish Democrats into flaming Russia hawks. Less than 100 days into his second term, he’s already converted the Democrats into Milton Friedmanite free traders. Give him a third term, and the Democrats will demand a return to the gold standard.