Tariffs, global imbalances, and the dollar
While the Trump administration has offered multiple justifications for imposing tariffs, none has been as prominently cited as the goal of reducing trade deficits. This
The unbearable lightness of promises
When reforms are judged by their plans rather than their impact, they risk drifting into the lightness of promises unmet. An “outcome reflex” mindset restores gravity—anchoring
Tariffs, deals and multilateral ideals: can the World Trade Organization survive?
The Trump administration’s trade policy accelerates the WTO’s decline and challenges global trade governance. The second administration of United States President Donald Trump has shaken
The flawed rationale behind America’s “reciprocal tariffs”
On 2 April 2025, the Trump administration declared a “national emergency” caused by “large and persistent US goods trade deficits” and announced the imposition of
Trump’s tariffs as fiscal folly
In 2025, the US government underwent a large fiscal switch, with Congress enacting large income tax cuts and the second Trump administration putting new tariffs
JPMorgan to invest up to $10 billion in US national security as part of $1.5 trillion pledge
JPMorgan Chase announced plans on Monday to hire bankers and invest up to $10 billion in U.S. companies considered critical to national security and economic resilience
Greening GovTech: Digital transformation for climate action
Around the world, governments are racing to digitize services and tackle climate change. Yet too often, these efforts happen in silos—or even pull in opposite
Dollar dominance and the Trump administration
There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in
Reforming the education of economists in Europe: Breaking the tyranny of the top five
Many European countries have adopted the American model of doctoral training and academic evaluation. While this model suits America’s vast, mobile labour market, in Europe
How much of a threat to US debt sustainability is Trump’s One Big Beautiful Bill Act?
The US should start fiscal adjustment as soon as it can if it wants to head off the risk of exploding debt related to Trump’s
