The twin deficits are back. As was the case in the 1980s, a powerful interplay is at work between ever widening US budget and trade deficits. But unlike the 1980s, the US judicial system has weighed in.  A unanimous ruling by the US Court of International Trade has...

There is an inherent flaw in US President Donald Trump’s trade policy. The combination of his global tariff and China strategy poses great danger. It is likely to have a destabilizing impact on the US and Chinese economies, with worrisome collateral damage on the...

The MAGA crowd likes to call it “strategic uncertainty” — implying that there is a grand plan to the chaos of Trump 2.0.  Economists are more agnostic, holding the view that uncertainty is the enemy of decision making, especially key elements of business decision...

A temporary rollback of reciprocal and retaliatory US-China tariffs has bought time for what had been a rapidly deteriorating global business cycle. However, during the 90-day pause (ending August 10), uncertainty and volatility are likely to remain high, crimpling...

Next month will mark the 95th anniversary of the enactment of the Smoot-Hawley Tariff Act, widely viewed as the spark to a global trade war and a major contributing factor to the Great Depression. As many have noted, during the first 100 days of Trump 2.0, US tariffs...