Free Republic

Four years ago, Nigel Farage decided he had achieved all he could in British politics. The gregarious English populist had campaigned for decades for Britain to leave the European Union, arguing the U.K. needed to make its own regulations and stop European migrants flowing in freely from the Continent to live and work. By 2021, Brexit was finally done. And so was Farage. “This has taken away the better part of my adult life,” he said as he announced he was quitting as leader of his anti-immigration party Reform UK. “I’m done.” Now Farage is back—and Reform UK is currently...

Donald Trump has repeatedly said that his move to impose wide-ranging tariffs is based on the simple concept of reciprocity: The U.S. should put the same conditions on imports from other countries that they impose on our goods through tariffs and other trade barriers. But the tariff scheme he announced isn’t reciprocal and isn’t based on measuring foreign trade barriers. Instead, it simply measures bilateral trade deficits and comes up with tariff numbers from there. Those are two very different things, and could be one reason why global financial markets are reacting so badly. The upshot is that, in the...