U.S. space exploration inspired a generation of students and innovators, but NASA’s role has diminished, and the number of global space competitors is growing.

Tariffs have been applied over the years to protect homegrown industries and target competitors who are seen as using unfair trade practices. They impose costs on both importers and exporters and had been in decline until the recent U.S.-China trade war.

Public policy experts call income and wealth inequality one of the defining challenges of this century. Recent crises have accelerated these divisions, and the COVID-19 pandemic has deepened them fur…