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
Strategic autonomy for Europe requires economic growth
The current US administration’s willingness to weaponise trade makes clear that transatlantic economic relations have become entirely transactional. This column, taken from a CEPR book
The Chinese economy: stimulus without rebalancing
China’s growth model has continued to rely on expanding industrial capacity and exporting to the world, rather than on domestic consumption. This has lead to
Trumpian tariffs are import substitution industrialization 2.0
The new Trumpian tariffs are not the familiar protectionism G7 nations have applied for decades. Instead of shielding particular sectors, they wall off the entire
The (non) effect of tariffs on manufacturing employment
The two most prominent arguments President Trump has advanced for his trade war – both during the early months of his second term, and for
