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
How European consumers respond to US tariffs
Faced with the prospect of the US government imposing higher trade tariffs, European consumers are rethinking what they buy. This column explores how European consumers
The 2025 trade war: Dynamic impacts across US states and the global economy
In 2025, the US government announced a series of tariff increases targeting major trading partners, including Canada, China, and Mexico. This column estimates the economic
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
