What Are the Long-Term Costs of the China-US Trade War?

August 18, 2019

Dark times loom for the US economy in the aftermath of President Donald Trump’s latest threat on August 1 to levy 10% tariffs on some $300 billion of imports from China. In response, China allowed the yuan to weaken against the dollar and thereby cushion the impact for Chinese exporters. In...

The Misadventures of “Tariff Man”

June 07, 2019

For Donald Trump, tariffs are a substitute for diplomacy, just as harassment in his personal life is a substitute for normal human interaction.  Donald Trump has two tools at his disposal as president. The first is his mouth: the insults and threats that he issues verbally or by Twitter. The...

Is the World Economy Headed for a Fall?

April 20, 2019

It’s not just the latest IMF forecast causing concern. Many straws in the wind point to tougher times ahead. The International Monetary Fund (IMF) has once again cut its global growth forecast for 2019. In its new semi-annual World Economic Report, the organization now projects a 3.3% growth...

Donald Trump Declares Economic War on China

September 24, 2018

US tariffs will cause immense pain to China, leading to existential risks to its export-oriented economic model and much pain. After World War II, the US decided to create a new rules-based international order. It was based on institutions such as the United Nations, the World Bank and the...

The Daily Devil’s Dictionary: Trump Wages “Economic War”

August 14, 2018

If a bloated military can’t force the world into submission, economic warfare should do the trick, at least according to Washington. Nothing can stop Donald Trump’s America from pursuing a foreign policy that is tantamount to a new brand of global warfare. And it isn’t just Trump. The...

Trump’s Tariffs Change Context of Brexit

June 19, 2018

A looming trade war makes Brexit less attractive for both the United Kingdom and the EU. In the increasingly likely event that US President Donald Trump follows up on his steel tariffs by imposing similar measures on European car imports on so-called “national security grounds,” we can...

Donald Trump’s Foreign Policy of One

June 18, 2018

From the G-7 dustup to the flashy photo shoot with Kim Jong-un, US foreign policy is now determined solely by the president's pettiest personal preferences. In the wake of the disastrous G-7 meeting in Canada and the successful summit in Singapore, it’s hard to know what to call US foreign...

The Daily Devil’s Dictionary: “Specializing” Amid Trade Wars

June 14, 2018

Reconsidering the logic of economic specialization in the context of trade wars.  Commenting on Donald Trump’s penchant for starting trade wars, which he sees as the sign of a return to mercantilist thinking, former US diplomat Gary Grappo, writing for Fair Observer, reminds us that “...

America under Trump: From Global Bridge Building to Demolition

June 09, 2018

The US is abandoning one of the G7’s founding principles: free trade. How could that be? Most normal people have an aversion to war. It brings on death, suffering, destruction and incalculable loss. We avoid it usually by diplomacy and negotiation in which all sides manage to get something...

The Daily Devil’s Dictionary: “Rebalance” Trade with Europe

June 07, 2018

Can America, a nation that claims to be leading the world and dominating the global economy, really function while mocking the notion of relationship? CNN has been following the White House’s accounts of conversations between President Donald Trump and European leaders unhappy about the trade...

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