Building European autonomy
Rule of law is not the enemy of autonomy; it is its foundation. Christine Lagarde says the EU can pursue its policy choices because they are framed by legal commitments that others recognise and respect
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trade policy
The financial sector and global dollar system
The US administration’s approach to financial markets mixes deregulatory policies with a range of other policies that are largely without precedent. Gary Gensler, Lev Menand and Joshua Younger catalogue the relevant policy shifts and consider how these shifts may impact financial stability, capital markets, and the global dollar system
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Free trade remains the best policy
History shows that tariffs harm trade. Patrick Minford demonstrates how the US is damaging its long run prospects by pursuing old-fashioned protectionism
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How Trump should have tackled the trade deficit
US trade deficits will have to be reduced to prevent a crisis down the road. Vijay Joshi and David Vines argue that fiscal consolidation, in association with a weaker dollar, appears to be the right way for the US to improve its trade balance
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The time is right
The EU and India both rank among the world’s five largest economies. Ignacio García Bercero and André Sapir offer a broad perspective on the EU-India trade relationship and argue the time is right to make a European Union-India trade deal happen
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Why the US and the WTO should part ways
The US embrace of power politics violates both the letter and spirit of the WTO’s GATT, undermining the integrity of the multilateral trading system. Henrik Horn and Petros Mavroidis suggest that such violations are unlikely to cease in the foreseeable future
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FUD and the rise of economic nationalism
The world is in a fragile state. Graham Bright considers the global trade landscape and fears that rather than a golden age, we must all be prepared to endure sustained and growing risks of global political instability and conflict
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Disregarding lessons from history
History is full of evidence that tariffs harm economic performance. Michael Bordo and Mickey Levy assess the two waves of globalisation in modern history and how they were interrupted by tariffs and barriers to trade, and outline possible scenarios and probable outcomes
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A trade war would undermine America’s innovators
Trump is correct to seek to revitalise American manufacturing. Stephen Ezell and Rodrigo Balbontin argue that the heavy reliance on tariffs is counterproductive and urge a smarter strategy focused on strategic investments in R&D, trade agreements, and support for innovation ecosystems
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Geopolitical risks and the EU
Global political tensions have amplified economic uncertainty. Roberta Arbolino and Paolo Di Caro evaluate the negative implications for consumption, investment, and saving decisions, and for the effectiveness of structural policies
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