The wide-ranging application of tariffs by the United States, imposed unilaterally by President Donald Trump, will radically restructure 80 years of international trade that was engineered by the Bretton Woods Agreement following the end of World War II. Trump’s actions will have a plethora of consequences, but the economic strategy is “madness”, a term used by Justin Wolfers, a Professor of Economics and Public Policy at the University of Michigan (The Cost of Living, CBC Radio, April 6, 2025).