Nvidia CEO joins Trump’s thorny trade mission to China
Trump embarks on the first visit by a U.S. president to China in nearly a decade eager to land some economic wins and prop up
The effects of geopolitical supply chain shocks on policy preferences of firms
Do geopolitical shocks to supply chains make firms retreat from globalisation? Using new survey data from 1,855 manufacturing firms in Japan, this column shows that
Why liquidity evaporates when it is most needed
A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely when it is most needed. This column argues that this
Export bans that weren’t really bans: How Russia kept importing military goods
Despite comprehensive export sanctions from Western allies against Russia, Western components continue to appear in Russian weapons. This column uses transaction-level Russian customs data combined
US tariffs may deepen integration, elsewhere
While recent analysis has focused on direct impacts of US tariffs and potential retaliation, major US trading partners have intensified trade negotiations with each other,
Tariff reciprocity and the True Cost of Protection Index
Effective tariff index comparisons are spotlighted in media reports on trade wars and trade talks. This column argues that the effective tariff index is inadequate
Global cooperation shows resilience despite geopolitical headwinds
The 2026 Barometer indicates that the overall level of cooperation has largely been unchanged in recent years but the composition of cooperation appears to be
Demystifying trade patterns in a fragmenting world
It has been argued that ‘connector’ countries can benefit from trade tensions by bridging the gap between trade blocs. This column examines trade flows of
The impact of uncertainty on corporate borrowing in the euro area
Uncertainty in the global economy has been elevated following trade tariff disputes, economic policy changes, and geopolitical risks. This column examines the impact of uncertainty
Rerouted, not reduced: How withholding taxes shape global services trade
Global services trade is expanding rapidly, but its intangible nature makes it a prime channel for profit shifting, prompting many countries to apply withholding taxes.
