Disentangling trade policy uncertainty and equity market performance
Despite headlines dominated by threats and implementations of US and retaliatory tariffs since President Trump’s inauguration, it was not until his “Liberation Day” announcement on
Nvidia supplier Foxconn cuts outlook due to currency appreciation
Taiwan’s Foxconn, the world’s largest contract electronics maker, downgraded its full-year outlook on Wednesday citing recent appreciation of the Taiwan dollar, even as it struck
Exchange rate uncertainty, tariff hikes, and adjustment costs
The recent shift in trade policy by the new US administration is impacting global trade and creating volatility in financial markets. This column quantifies the
Roaring tariffs: The global impact of the 2025 US trade war
Sweeping US tariff increases in 2025 are upending global trade. This column draws on new data and simulations to show that, even with partial suspensions,
Tariffs cannot fund the government: Evidence from tariff Laffer curves
Until the late 19th century, states raised most of their government revenues from import tariffs. This column asks whether the practice could work today. A
