The context is implied here: there's a big constituency in the US for dismantling the post war international governance framework and the trade issue can be subsumed in that. A Trump 2nd term it's likely to confirm that Americans have lost confidence in the Post 45 settlement.
We are in for a bumpy ride as per Krugman. We may find out if the notion of a single global reserve currency is a historical accident.
Last time this happened it took 30 years for a new global settlement to emerge.
