The US is trading long-term strategic advantages for immediate tactical gains, and the costs are accumulating in ways that won’t become apparent until it’s too late to reverse course.

T he United States is winning. Or at least that is how it looks if you are tracking market indices and the parade of countries lining up to cut deals with President Donald Trump. The US economy is outpacing its allies. Stocks keep hitting record highs. And Asian and Gulf countries have pledged trillions of dollars in foreign direct investment in the US during the Trump presidency.

Moreover, the United Kingdom, the European Union and several Southeast Asian co

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