Even though it's in no small measure another Manufactured Distraction Of The Moment, Trump's 'tarifazo' will bring real consequences and impact everyone, everywhere, for months and years to come.

How do I know? 

Because 'history', and because I've lived through something similar during part of my life, as explained in the preface of my last book and a host of posts here on The O.P. 

Granted, this is a different world from that of the 1970s and 80s (and even more so from that of the 1930s). However, the dynamics of crises remain unchanged. 

Everything is attached to the economy, and today, it runs on globalized trading more than ever. The majority of products we consume daily are "global" in one way or another. 

That arrangement is about to face profound changes and suffer large shocks, bringing instability to levels not seen during the last three or four decades.