Podcasts about International economics

U.S. President Donald Trump famously tweeted during his first term, “Trade wars are good, and easy to win.” But the record of the trade war that Trump started with his so-called Liberation Day tariffs in early April suggests that things are a bit more complicated.  In an essay for Foreign Affairs appropriately titled, “Trade Wars Are Easy to Lose,” the economist Adam Posen argues that the United States has a weaker hand than the Trump administration believes. That's especially true when it comes to China, the world's second-largest economy and perhaps the real target of Trump's trade offensive. “It is China that has escalation dominance in this trade war,” Posen writes. “Washington, not Beijing, is betting all in on a losing hand.” Dan Kurtz-Phelan spoke to Posen, who is president of the Peterson Institute for International Economics, on June 9 about the short- and long-term effects of Trump's tariffs and the economic uncertainty they've caused, about what it would take to constructively remake the global economy, and about the growing risks to the United States' economic position at an especially dangerous time. You can find sources, transcripts, and more episodes of The Foreign Affairs Interview at https://www.foreignaffairs.com/podcasts/foreign-affairs-interview.

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this in-depth interview from the PFI Talks series by the Prague Finance Institute, renowned economist Maurice Obstfeld — Senior Fellow at the Peterson Institute for International Economics, former Chief Economist of the IMF, and former adviser to President Obama — issues a stark warning: America's rising debt, eroding fiscal discipline, and political gridlock are creating systemic risks far beyond its borders.As the world continues to rely on the dollar and U.S. Treasury markets for stability, Obstfeld explains why this "exorbitant privilege" may no longer be sustainable. From the weakening foundations of the dollar's dominance to the global consequences of U.S. policy paralysis, Obstfeld paints a sobering picture: “We are in the eye of the storm.”What you'll learn in this interview:• Why U.S. fiscal policy threatens global financial stability• How the dollar's safe-haven status could be undermined• The dangers of political dysfunction and growing inequality• Whether the world is quietly preparing to move away from the dollar system• What policy changes are urgently needed to avoid a future crisisJiri Zatloukal, a financial journalist and contributor to PFI Talks, talked with Maurice Obsfeld.

Jon Hartley and Kenneth Rogoff discuss Ken's career as an academic economist, his time in international economic policy, rising sovereign debt burdens, monetary policy, the legacy of quantitative easing, exchange rate theories, tariffs, and the US dollar's status as the world reserve currency. Recorded on May 12, 2025. ABOUT THE SPEAKERS: Kenneth Rogoff is Thomas D. Cabot Professor at Harvard University. From 2001-2003, Rogoff served as Chief Economist at the International Monetary Fund. His 2009 book with Carmen Reinhart, This Time is Different: Eight Centuries of Financial Folly, has been very widely cited by academics, policymakers, and journalists. One regularity that Reinhart and Rogoff illustrate is the remarkable quantitative similarities across time and countries in the run-up and the aftermath of severe financial crises. In general, they show that for financial crises, the differences between emerging markets and advanced countries are far less pronounced than previously believed. Rogoff is also known for his seminal work on exchange rates and on central bank independence. His treatise, Foundations of International Macroeconomics (joint with Maurice Obstfeld), is the standard graduate text in the field worldwide. His monthly syndicated column on global economic issues is published in over 50 countries. He serves on the Economic Advisory Panel of the New York Federal Reserve. He is a member of the Council on Foreign Relations. Rogoff is an elected member of the National Academy of Sciences, the American Academy of Arts and Sciences, and the Group of Thirty. Rogoff is among the top ten on RePEc's ranking of economists by scholarly citations. He is also an international grandmaster of chess. Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Research Fellow at the UT-Austin Civitas Institute, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon is also the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami. Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada.  Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star, among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper.  ABOUT THE SERIES: Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information, visit: capitalismandfreedom.substack.com/

Ha preso il via a Trento il Festival dell'Economia, che celebra la sua ventesima edizione e i 160 anni del Sole 24 Ore. Il tema di quest'anno è “Rischi e scelte fatali. L'Europa al bivio”. L'evento, organizzato dal Gruppo 24 Ore e Trentino Marketing con il supporto delle istituzioni locali, si tiene dal 22 al 25 maggio. Nella giornata inaugurale, presenti cinque ministri tra cui Tajani, Giorgetti, Santanchè e Crosetto, e figure di rilievo come Caltagirone, Tremonti, Tronchetti Provera e Andrea Illy. La giornata si chiude con la cerimonia inaugurale e un intervento del cardinale Ravasi. Il Festival ospita 6 Premi Nobel e oltre 290 relatori tra economisti, accademici, imprenditori e rappresentanti delle istituzioni. Al centro, il futuro dell'Europa in un contesto geopolitico segnato da conflitti, crisi economiche e leadership deboli. Il ritorno di Trump alla presidenza degli Stati Uniti ha rappresentato una svolta storica, aprendo a scenari di grandi cambiamenti: il ritorno del potere degli Stati, la globalizzazione che difficilmente ritornerà almeno come l'abbiamo conosciuta, lo sviluppo del commercio internazionale che dovrà fare i conti con una nuova era di dazi e protezionismo. Altrettanto certa è la polarizzazione sempre più evidente tra Stati Uniti e Cina, con l'Europa sempre di più un vaso di coccio tra due vasi di ferro, costretta a fare i conti con la Germania in recessione, le difficoltà sempre più evidenti della Francia e la drammatica mancanza di leadership adeguate. Il tutto in uno scenario che vede la geopolitica imporsi come variabile determinante, con una sessantina di guerre in corso e le lacerazioni indotte dal conflitto in Ucraina e dalla carneficina in Medio Oriente. Intervengono Marco Magnani, professore di International Economics alla LUISS Guido Carli e Giuliano Noci - Professore ordinario in Ingegneria Economico-Gestionale, insegna Strategia & Marketing presso il Politecnico di Milano. Dal 2011 è Prorettore del Polo territoriale cinese dell'Ateneo milanese.Consob, sospesa l'ops Unicredit su Banco BpmColpo di scena nell'Ops lanciata da UniCredit su Banco Bpm: la Consob ha accolto la richiesta di sospensiva dell'operazione per 30 giorni, riconoscendo la presenza di nuovi elementi emersi dopo l'avvio dell'offerta. La banca guidata da Andrea Orcel ha tentato un dialogo con il governo, ostacolato dai vincoli imposti dal Golden Power. I prossimi 30 giorni serviranno a valutare le alternative, incluso un ricorso al TAR o eventuali nuove strategie di mercato, tra cui possibili mosse su Mediobanca o Generali. Intanto, Banco Bpm ha annunciato l'intenzione di impugnare il provvedimento Consob, aprendo un nuovo fronte nella già complessa operazione. Ne parliamo con Alberto Grassani, Il Sole 24 Ore.

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/east-asian-studies

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/chinese-studies

U.S. Tariffs are hurting China Exports from China have dropped dramatically which has weighed on China's economy. This has caused protests due to lost jobs and wages in their economy. Exports from China to the United States dropped 20% in April, but China did pick up exports from other countries like Indonesia, Thailand and Africa. While this may help a little, the export dollars for China to these other countries pales in comparison to the mighty consumption of the US consumer. China's economy depends on exports considering the fact that in 2024 1/3 of GDP growth came from exports. The Chinese government is panicking a little bit with the central bank in China saying it would cut interest rates and inject more liquidity into the financial system. Some factories in China are pausing their production and laying off workers until things pick up again. Goldman Sachs estimates that roughly 16,000,000 jobs in China come from exports to the United States. With the news that tariffs are being lowered for 90 days it will be interesting to see how companies and these countries react. The US will still have a 30% tariff on many Chinese products, but that is much more manageable than the 145% that was in effect. It is important to remember this is a pause and that rhetoric could pick back up as negotiations continue. I do believe a reescalation in the trade war would really hurt the Chinese economy more than ours and I'm optimistic we will see a trade deal reached, but it will likely take time. I believe it is worth waiting for as a better trade agreement will benefit us for decades down the road.   Inflation continues to cool The headline Consumer Price Index (CPI) for the month of April came in at a 12-month rate of 2.3%, which was below the estimate of 2.4% and marked the lowest reading since February 2021. Core CPI, which excludes food and energy, came in at 2.8% which matched expectations and was in line with March's reading. Energy was a major help to the headline number as it fell 3.7% compared to last year with gasoline in particular down 11.8% over that timeframe. While this is all great many economists are worried about what the next few months will look like on the inflation front due to tariffs. Joseph Gagnon from the Peterson Institute for International Economics said he believes a 10% average tariff rate would add as much as 1 percentage point to the CPI after about six to nine months. While I would agree with the idea that inflation will likely increase in the months ahead, I still don't believe it will be to a problematic level for two reasons. First, we should remember there are several players that can absorb the costs from these tariffs. You have to consider the companies importing products can reduce their margin, there would be shipping/transportation companies that can reduce their costs, the company's manufacturing products can lower their prices, and then yes, the consumer is the last piece of the puzzle that could now have higher prices. With all that said I don't believe a 10% tariff would result in a 10% increase in prices due to all the places in the supply chain that can absorb some of the cost. The second reason I wouldn't be overly concerned is I wouldn't see the tariff as embedded inflation and it could likely be viewed as a one-time lift to prices that would then be lapped next year. Nonetheless this story will be interesting to monitor in the coming months to see what the actual impact is, but I do remain optimistic about our economy and the inflation outlook.   Could artificial intelligence create more jobs? Many people think that artificial intelligence, also known as AI, is going to reduce jobs for people. The CEO of IBM, who admits that AI has replaced hundreds of workers, said it has created more jobs than it has eliminated. He went on to say it frees up investment that the employer can put to other areas that include such jobs as software engineering, sales, & marketing. Normal things like creating spreadsheets and other routine tasks can be done with artificial intelligence, but it still takes a human to do the critical thinking on how to use that data to enhance business for the company. If you're working for a company and you don't have much contact with other workers that relate to your job, your job could be at risk of being replaced by AI. Make sure your job involves using data to work with other people, which should give you job security in the growing world of AI.   Oil at $50 a barrel? There is talk that we could see oil drop from around $60 a barrel down to $50 a barrel, which would be a big benefit for consumers at the pump. The reason for this is that OPEC and its allies are increasing production of oil faster than anyone expected. By June they could be producing nearly 1,000,000 more barrels of oil per day compared to current levels. The United States is currently the number one producer of oil in the world with production of nearly 15,000,000 barrels per day. If you're wondering does that meet our consumption? It does not as that stands at 19.6 million barrels per day. OPEC is not taking this sitting down and they want to regain market share. To do it appears they're willing to see lower oil prices. The reason why oil prices are expected to drop is that the demand is about the same as it was just one year ago, so the increase in production means we'll probably have an oil glut for a while. At $50 a barrel most oil companies can still make money off of producing oil, but US oil companies might stop doing stock buybacks and could no longer build new wells. What this would do is hurt supply in the future and oil would turn around and increase once again. If you invest in oil companies, you have to realize that supply/demand of oil will rule the price of the stock. But fortunately, most of the big oil companies pay a good dividend, which makes it a little bit easier to hold on when the stocks have a temporary decline. For consumers, this means the average cost per gallon of gasoline across the country, which is now around $3.20 per gallon, could drop to levels around $2.50 per gallon. Consumers in California may not see declines in the prices at the pump as California continues to drive refiners out of the state and reject refined gasoline from other states that do not meet a ridiculously high standard. If you want to blame someone for higher gas prices in California you can blame the governor and Sacramento for ridiculous policies on gasoline.   Financial Planning: Trusts and Retirement Accounts Do Not Mix Naming a living trust as the beneficiary of a retirement account—such as an IRA or 401(k)—is generally not a good idea due to potential tax inefficiencies and administrative complexity. Under the SECURE Act, the "stretch IRA" option has been largely eliminated for most non-spouse beneficiaries, and replaced with a 10-year rule requiring the entire account to be withdrawn within a decade of the original owner's death. If a trust is named as the beneficiary and it isn't specifically drafted to be the beneficiary of a retirement account, it may not qualify for this 10-year treatment and could face even faster distribution requirements, such as a 5-year distribution period, accelerating taxes significantly. Instead, it's typically better to name individual beneficiaries directly on retirement accounts to preserve flexibility and minimize tax impact. For those needing control over distributions—for example, to protect minor children or spendthrift heirs—a carefully drafted trust designed to meet IRS requirements should be used with the help of a qualified estate planning attorney. For most other cases, listing actual people or charities as beneficiaries is a much simpler and more efficient strategy.   Companies Discussed: Dick's Sporting Goods, Inc. (DKS), Charter Communications, Inc. (CHTR), Krispy Kreme, Inc. (DNUT) & Lyft, Inc. (LYFT)

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/book-of-the-day

The Chinese Communist Party's complex and contradictory embrace of capitalism has played a pivotal role in shaping China's economic reforms since the late 1970s. The Bird and the Cage: China's Economic Contradictions (Palgrave MacMillan, 2025) explores the persistent tensions between state control and market forces in China. It shows how these tensions provide a framework to understand Xi Jinping's recent efforts to tighten control over the Chinese economy. It also evaluates the broader implications of these policies for China's economic trajectory and its global trade relationships. Nicholas Borst is vice president and director of China research at Seafarer Capital Partners, and a member of the seventh cohort of the Public Intellectuals Program of the National Committee on US-China Relations. Prior to joining Seafarer, he was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, Mr. Borst was the China program manager and a research associate at the Peterson Institute for International Economics. He also worked as an analyst at the World Bank, reviewing Chinese overseas investment projects. He was the founder and editor of the Peterson Institute's China Economic Watch blog, the co-founder of the Federal Reserve's Pacific Exchanges blog and podcast, and the founder of Seafarer's Prevailing Winds blog. His research and commentary have been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, The Wire China, and South China Morning Post. He has testified before the U.S.-China Economic and Security Review Commission on two occasions. Mr. Borst holds a B.A. in political science and international studies from the University of Arizona. He holds a certificate in Chinese studies from The Johns Hopkins University – Nanjing University Center and a master's degree in international relations and economics from the Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder and a member of the CFA Institute. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/book-of-the-day

This week's show is sponsored by: EPIC-MRA Public Opinion Research MIRS News Fulton Fish Market

The dollar has been the de facto global currency since World War II, pulling foreign investment into the US and allowing the federal government to borrow cheaply. A strong dollar also makes export-driven domestic industries less competitive, something the Trump administration is trying to offset through tariffs. A rumored “Mar-a-Lago Accord” would attempt to maintain the benefits of cheap borrowing while weakening the dollar. In this episode, we talk with Benn Steil, Senior Fellow and Director of International Economics at the Council on Foreign Relations, about the history behind the dollarization of global finance, the economic tradeoffs of sustained dollar strength, and how new policies could upend the dollar's role in the post-war financial system.

In this episode of On Human Rights, we speak with Yalda Bari, a human rights advocate and expert in women's economic empowerment from Afghanistan. Yalda holds a Master's in International Economics from the Berlin School of Economics and Law and brings over seven years of experience with organisations such as GIZ, ILO, and USAID, where she worked to support Afghan women's access to the job market and build women-led businesses. She is also the founder of Bari Search Path, a company dedicated to empowering Afghan women through employment support and training. As a fellow at the Raoul Wallenberg Institute, Yalda is conducting research on the challenges faced by women-led businesses inside Afghanistan under the current political regime. Her work aims to document women's on-the-ground experiences and develop policy recommendations that can sustain and expand opportunities for financial independence in a deeply restrictive environment. “Businesses [are] an area of hope... they can still do activities from home. We need to address the challenges they're facing and support them to make the best out of this little opportunity.” In this conversation, Yalda shares insights from her research, the resilience of Afghan women, and the importance of listening to voices that are often left out of international discussions.

On this episode of the Energy Security Cubed Podcast, we feature a retrospective on an episode released last year where Kelly Ogle and Joe Calnan interview Cullen Hendrix about a recent US Department of Labour ruling against Indonesian nickel production, how it demonstrates the decline of trade globalization, and what it could mean for Canada. // For the intro section, Joe Calnan talks Alberta Separatism and the future of hydrogen and oil in Asia. // Guest Bio: - Cullen Hendrix is a senior fellow at the Peterson Institute for International Economics and a non-resident fellow at the Payne Institute for Public Policy at the Colorado School of Mines // Host Bio: - Kelly Ogle is Managing Director of the Canadian Global Affairs Institute - Joe Calnan is a Fellow and Energy Security Forum Manager at the Canadian Global Affairs Institute // Reading recommendations: - "The War Below: Lithium, Copper, and the Global Battle to Power Our Lives", by Ernest Scheyder: www.simonandschuster.ca/books/The-War…9781668011805 - "The Squared Circle: Life, Death, and Professional Wrestling", by David Shoemaker: www.penguinrandomhouse.ca/books/311224…781592408818 // Interview recording Date: September 26, 2024 // Energy Security Cubed is part of the CGAI Podcast Network. Follow the Canadian Global Affairs Institute on Facebook, Twitter (@CAGlobalAffairs), or on LinkedIn. Head over to our website at www.cgai.ca for more commentary. // Produced by Joe Calnan. Music credits to Drew Phillips.

What are tariffs really used for? For economic protection? For political gain? For enforcing foreign policy? In this interview, I discuss the following with my guest scholar: ►Why James Madison foresaw tariffs as an inevitable source of conflict? ►In U.S. history, did Americans ever complain that tariffs are really a tax on the people? ►What was the first instance in which tariffs were used as a foreign policy tool? ►What is the Tariff of Abominations? ►How did tariffs backfire on Southern politicians? ►How are tariffs and secession movements related? ►Were tariffs part of Civil War's history? ►What powers did Congress grants to FDR over tariffs? ►What part of U.S. history does Pres. Trump point to as justification for his tariff policy? ►What was Pres. Reagan's tariff policy? ►How is tariff policy with the USSR different than our tariff policy toward China?

Throughout the campaign of 2024, President Donald Trump promised to use tariffs to reset America’s global trade relationships, revitalize American manufacturing, and increase government revenues—and in the first months of his second administration, the president has used tariffs and the threat of tariffs to drive concessions even while raising antagonism and roiling markets. Kimberly Clausing helps us distinguish between the rhetoric and the reality of these tariffs. Clausing is an expert on the taxation of multinational firms. She served as the Deputy Assistant Secretary for Tax Analysis in the U.S. Department of the Treasury, serving as the lead economist in the Office of Tax Policy during the Biden administration. She is a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. Clausing has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Her research examines how government decisions and corporate behavior interplay in the global economy. She has published numerous articles on the taxation of multinational firms, and she is the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.” See omnystudio.com/listener for privacy information.

For the next 90 days, the two countries will temporarily ease tariffs on each other's goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.

In addition to Trump's erratic trade policies, Republicans are also working to defund vital programs like Medicare and Social Security in their upcoming legislative push. AOC has an explainer on how the GOP is looking to cut nearly a trillion dollars out of Medicare and give it to billionaires. After that, Sam speaks to Mark Blyth to help unpack Trump's topsy turvy tariff policy and how it relates to inflation. Blyth is the Director of The William R. Rhodes Center for International Economics and Finance and a professor at Brown University. He's also the co-author of the new book “Inflation: A Guide for Users and Losers” which is out now: https://www.markblyth.com/books In the Fun Half, Sam and Emma take in some of the highlights from the White House press conference on Trump's latest executive order on prescription drug prices, which, suffice to say, is not what it's advertised to be. Trump says a rich friend of his who's taking the "fat shot drug" told him he's paying far less for it in the U.K. than in the U.S. RFK Jr. says this is proof that Trump is sticking it to the oligarchy. At the same time, Bret Weinstein is very concerned that maybe big pharma has gotten to RFK Jr. Become a member at JoinTheMajorityReport.com: https://fans.fm/majority/join Follow us on TikTok here!: https://www.tiktok.com/@majorityreportfm Check us out on Twitch here!: https://www.twitch.tv/themajorityreport Find our Rumble stream here!: https://rumble.com/user/majorityreport Check out our alt YouTube channel here!: https://www.youtube.com/majorityreportlive Gift a Majority Report subscription here: https://fans.fm/majority/gift Subscribe to the ESVN YouTube channel here: https://www.youtube.com/esvnshow Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/ Join the Majority Report Discord! https://majoritydiscord.com/ Get all your MR merch at our store: https://shop.majorityreportradio.com/ Get the free Majority Report App!: https://majority.fm/app Go to https://JustCoffee.coop and use coupon code majority to get 10% off your purchase! Check out today's sponsors: Cozy Earth: Get up to 40% off at CozyEarth.com with code MAJORITYREPORT at checkout Aura Frames: Exclusive $35-off Carver Mat at AuraFrames.com. Promo Code: MAJORITY Express VPN: Get an extra 4 months free. Expressvpn.com/Majority Follow the Majority Report crew on Twitter: @SamSeder @EmmaVigeland @MattLech @RussFinkelstein Check out Matt's show, Left Reckoning, on Youtube, and subscribe on Patreon! https://www.patreon.com/leftreckoning Check out Matt Binder's YouTube channel: https://www.youtube.com/mattbinder Subscribe to Brandon's show The Discourse on Patreon! https://www.patreon.com/ExpandTheDiscourse Check out Ava Raiza's music here! https://avaraiza.bandcamp.com/ The Majority Report with Sam Seder – https://majorityreportradio.com/

For the next 90 days, the two countries will temporarily ease tariffs on each other's goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.

Beijing confirmed on Wednesday that its top trade negotiator will meet with his US counterpart during a visit to Switzerland this week but issued a pointed warning: dialogue must be genuine, not a cover for continued pressure and unilateral demands.中国周三确认其高级贸易谈判代表将在本周访问瑞士期间与美方对等官员会晤，但发出明确警告：对话必须真诚务实，不能成为持续施压和单方面要求的遮羞布。In Washington, US Treasury Department Secretary Scott Bessent and US Trade Representative Jamieson Greer announced that they will meet with their Chinese counterparts for talks.华盛顿方面，美国财政部部长斯科特·贝森特和美国贸易代表杰米森·格里尔宣布将与中方对应官员举行会谈。The conversations mark the first official public engagement between the world's two largest economies after Trump administration's decision of imposing hefty tariffs on China imports plunged the two into a trade war.这是自特朗普政府决定对中国进口商品加征高额关税使两国陷入贸易战后，全球两大经济体首次正式公开接触。In a statement issued early on Wednesday, China's Ministry of Commerce said that senior US officials have repeatedly signaled adjustments to its tariff measures and conveyed messages through multiple channels, expressing a desire to engage with China on tariffs and related issues.中国商务部周三凌晨发布的声明指出，美方高级官员已多次释放调整关税措施的讯号，并通过多种渠道传递信息，表达就关税及相关问题与中国进行磋商的意愿。"After careful evaluation of these US overtures and on the basis of fully considering global expectations, China's interests, and the appeals of US industry and consumers, China has decided to re-engage the US," a spokesman for the Chinese Ministry of Commerce said in the statement.“在慎重评估美方这些示好姿态，并充分考虑全球期待、中国利益以及美国业界和消费者诉求的基础上，中方决定重启与美国的接触。”中国商务部发言人在声明中表示。The statement said that Vice-Premier He Lifeng, China's lead representative on economic and trade issues, will hold talks with Bessent during his May 9-12 trip.声明指出，中国经贸问题首席代表、国务院副总理何立峰将在5月9日至12日访美期间与贝森特举行会谈。In Washington, Bessent confirmed in an interview that they would meet on Saturday and Sunday.在华盛顿，贝森特接受采访时证实双方将于周六和周日会面。But Beijing made clear that it is entering the talks with caution. "If the US wants to talk, our door is always open," a ministry spokesperson said. "But if you say one thing and do another, or even to attempt to use talks as a cover to continue coercion and extortion, China will never agree, let alone sacrifice its principled position and international fairness and justice to seek any agreement."但中方明确表示将以审慎态度开启对话。“如果美方想谈，中方的大门始终敞开，” 中国商务部发言人表示，“但如果美方说一套做一套，甚至企图以谈判为掩护继续实施胁迫勒索，中方绝不会接受，更不可能以牺牲原则立场和国际公平正义为代价来换取任何协议。”The spokesperson noted that negotiations must be grounded in "mutual respect, equal consultation and mutual benefit".发言人强调，谈判必须建立在“相互尊重、平等协商、互利共赢”的基础之上。The ministry's statement cited an old Chinese saying: "We must not only listen to what they say but also watch what they do," warning that any future agreement would depend on Washington's sincerity and actions—not just its words.声明援引中国古训“听其言，观其行”，警告未来任何协议都将取决于美方的诚意与实际行动——而非空口承诺。The statement also carries a message to other economies that are engaging with Washington. "Appeasement does not bring peace, and compromise does not earn respect," it said, adding that only by adhering to principles, fairness, and justice can one truly safeguard interests.该声明同时向其他与美方接触的经济体传递信息：“绥靖无法换取和平，妥协不能赢得尊重”，声明还说，唯有坚持原则、恪守公平正义，才能真正维护自身利益。Ahead of the planned meeting in Switzerland, Bessent said he looked forward to "productive talks".在瑞士计划举行的会晤前夕，贝森特表示期待进行“富有成效的对话”。He said the US and China had to de-escalate before they can move forward with trade negotiations.他指出，美中两国必须首先实现局势降级，才能推动贸易谈判取得进展。"My sense is that this will be about de-escalation, not about the big trade deal, but we've got to de-escalate before we can move forward," Bessent said in an interview on Fox News on Tuesday.贝森特周二接受福克斯新闻采访时强调：“我认为本次会晤重点在于缓和紧张局势而非达成重大贸易协议，但在推进谈判前我们必须要实现降级。”He also said "the current tariffs and trade barriers are unsustainable, but we don't want to decouple".他同时表示“现行关税和贸易壁垒不可持续，但我们不希望走向脱钩”。In his first 100 days in office since Jan 20, US President Donald Trump has announced sweeping tariffs, starting with a 10 percent blanket duty on all foreign-made imports.美国总统特朗普自1月20日就职以来的首个100天内，已宣布实施全面关税措施：首先对所有外国进口商品征收10%的统一关税。Dozens of countries received a 90-day pause until July, but tariffs were raised to 145 percent on products from China, which has retaliated by imposing 125 percent levies on US goods.尽管数十个国家获得了截至7月的90天暂缓期，但对华商品关税已提升至145%。作为反制，中国已对美国商品实施125%的报复性关税。Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics in Washington, said the Switzerland meeting is very important, and that "the news would be warmly welcomed by the financial markets and trading firms".华盛顿彼得森国际经济研究所高级研究员加里·赫夫鲍尔认为，此次瑞士会晤至关重要，“这一消息将受到金融市场和贸易公司的热烈欢迎”。unilateral/ˌjuːnɪˈlætrəl/adj. 单方面的;单方的hefty tariffs高额关税coercion/kəʊˈɜːʃn/n.胁迫extortion/ɪkˈstɔːʃn/勒索;敲诈de-escalation/diː ˌeskəˈleɪʃn/n.降级; 减低战争的范围或强度

For decades, China has been central for global supply chains and a primary U.S. trade partner, but as China's influence grows, should the U.S. cut economic ties, or stay engaged? Those in favor of decoupling say it is vital for protecting national security and reducing reliance on China's supply chains. Those against decoupling argue doing so would harm U.S. businesses, stall innovation, and deepen global divides. Now we debate: Should the U.S. Decouple from China? Arguing Yes:   Derek Scissors, Senior Fellow at the American Enterprise Institute      Isaac Stone Fish, CEO and Founder of Strategy Risks    Arguing No:   Benn Steil, Senior Fellow and Director of International Economics at the Council on Foreign Relations    Susan Shirk, Research Professor and Director Emeritus of the 21st Century China Center at UC San Diego School of Global Policy    Emmy award-winning journalist John Donvan moderates  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Mike is joined by political economist, author and Professor of International Economics and Finance over at Brown University, Mark Blyth, to discuss tariffs, factors to pay attention to when understanding the economy, demystifying claims about the global trade market & more, plus Mike on the FSU school shooting that happened last week. Check out Professor Blyth's new book 'Inflation: A Guide for Users and Losers' coming out May 6th at - https://shorturl.at/QLs2hThis episode is brought to you by - Fresh Roasted Coffee - Have a cup of the best tasting coffee that gets Mike & Nick through breaking down the latest in news & politics! Visit our link - https://lddy.no/1hvgr & use our promo code CANWEPLEASEGET20 for 20% off your first purchase.And by SeatGeek.  NBA & NHL playoff tickets, concerts, you name it, SeatGeek has the tickets! Go to seatgeek.com or download the SeatGeek app and use our promo code CANWEPLEASETALK at checkout to get $20 off that ticket purchase!Support this show http://supporter.acast.com/can-we-please-talk. Become a member at https://plus.acast.com/s/can-we-please-talk. Hosted on Acast. See acast.com/privacy for more information.

On April 2nd, the U.S. government announced a host of sweeping tariff hikes with every single one of America's trading partners. The aim of the so-called “Liberation Day” tariffs was ostensibly to “rebalance” the global trading system, as some Trump advisors have put it.However, the drastic measure roiled markets and eventually resulted in the President imposing a 90-day pause on most tariffs, with the exception of strategic sectors and imports from China. India, for its part, was slapped with a 26% tariff even as top officials were negotiating a bilateral trade agreement with their American counterparts.While the fate of future tariffs and any side agreements are unknown, the episode raises serious questions about India's global economic strategy. To talk about where India goes from here, Milan is joined on the show this week by Shoumitro Chatterjee. Shoumitro is an Assistant Professor of International Economics at Johns Hopkins-SAIS. His research lies at the intersection of development economics, trade, and macroeconomics, but he has also done seminal work on the role of agriculture in development.Milan and Shoumitro discuss India's surprising export-led success, its underperformance in low-skilled manufacturing, and the country's inward turn post-2017. Plus, the two discuss how India can take advantage of the current global uncertainty and where the politically sensitive agricultural sector fits in.Episode notes:1. Shoumitro Chatterjee, “In Trump's tariff world, India must say: We are open for business,” Indian Express, April 4, 2025.2. Abhishek Anand, Shoumitro Chatterjee, Josh Felman, Arvind Subramanian, and Naveen Thomas, “How quality control orders are crippling India's trade competitiveness,” Business Standard, March 4, 2025.3. Shoumitro Chatterjee and Arvind Subramanian, “India's inward (re)turn: is it warranted? Will it work?” Indian Economic Review 58 (2023): 35-59.4. Shoumitro Chatterjee, Devesh Kapur, Pradyut Sekhsaria, and Arvind Subramanian, “Agricultural Federalism: New Facts, Constitutional Vision,” Economic and Political Weekly 62, no. 36 (2022): 39-48.5. Shoumitro Chatterjee and Arvind Subramanian, “India's Export-Led Growth: Exemplar and Exception,” Ashoka Center for Economic Policy Working Paper No. 01, October 2020.6. Shoumitro Chatterjee and Arvind Subramanian, “To embrace atmanirbharta is to choose to condemn Indian economy to mediocrity,” Indian Express, October 15, 2020.7. Shoumitro Chatterjee and Arvind Subramanian, “Has India Occupied the Export Space Vacated by China? 21st Century Export Performance and Policy Implications,” in Euijin Jung, Arvind Subramanian, and Steven R. Weisman, editors, A Wary Partnership: Future of US-India Economic Relations (Washington, D.C.: Peterson Institute for International Economics, 2020).8. Shoumitro Chatterjee and Devesh Kapur, “Six Puzzles in Indian Agriculture,” India Policy Forum 13, no. 1 (2017): 185-229.

Tonight's rundown:  Hey BillOReilly.com Premium and Concierge Members, welcome to the No Spin News for Thursday, April 10, 2025. Stand Up for Your Country.  Talking Points Memo: How the United States could hurt China and why the Chinese economy will collapse unless a deal is reached. Nicholas Lardy, Ph.D., Senior Fellow at the Peterson Institute for International Economics, joins the No Spin News to discuss U.S.–China relations and whether Trump may have overestimated his leverage. Bill looks at the anti-Trump media's overreaction to the price of oil and eggs. Panama and the U.S. sign a new security deal for the canal.  Why did CNN hold a town hall with Bernie Sanders? This Day in History: Paul McCartney announces that he is leaving The Beatles. Final Thought: Television pundits' saying, 'by the way' and 'we'll see.' In Case You Missed It: Read Bill's latest column, Make America Scared Again. Stand out from the crowd with our Not Woke baseball cap for just $28.95! For a limited time, get Bill O'Reilly's bestselling The United States of Trump and a No Spin Mug for only $39.95. Pre-order Bill's next book in the new Confronting Series, ‘Confronting Evil' NOW! Now's the time to get a Premium or Concierge Membership to BillOReilly.com, the only place for honest news analysis. Learn more about your ad choices. Visit megaphone.fm/adchoices

For a closer look at how President Trump's tariffs are already impacting the U.S. and global economies, Amna Nawaz spoke with Mary Lovely, a senior fellow who studies tariffs at the nonpartisan Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders

The Trump Administration has thrown global financial markets into chaos with its massive but on-again, off-again tariffs against America's trading partners, both large and small. The White House has at times framed the tariffs as a revenue generation scheme, at other times framed them as an attempt to return manufacturing to the US, and at still other times has said they are an attempt to gain concessions from other countries on non-economic issues. What are the goals of the tariffs, how has the administration calculated them, and what are their likely effects on global finance and trade? To answer these questions and others, Dr. Mark Duckenfield, Professor of International Economics at the US Army War College, joins host Bob Hamilton on Chain Reaction. Get full access to FPRI Insights at fpriinsights.substack.com/subscribe

For a closer look at how President Trump's tariffs are already impacting the U.S. and global economies, Amna Nawaz spoke with Mary Lovely, a senior fellow who studies tariffs at the nonpartisan Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders

For today's episode, Lawfare General Counsel and Senior Editor Scott R. Anderson sat down with Lawfare Contributing Editor Peter Harrell, who was previously Senior Director for International Economics on the National Security Council, and Professor Jennifer Hillman of the Georgetown University Law Center, a former member of the WTO's appellate body and senior U.S. trade official, to discuss the new global tariffs that President Trump imposed last week and the legal fight that is beginning to emerge over them.Together, they discussed how dramatic a break the Trump administration's policies are from past practice, the logic behind them (or lack thereof), and whether his use of the International Emergency Economic Powers Act (IEEPA) to impose them will really survive judicial scrutiny.To receive ad-free podcasts, become a Lawfare Material Supporter at www.patreon.com/lawfare. You can also support Lawfare by making a one-time donation at https://givebutter.com/lawfare-institute.Support this show http://supporter.acast.com/lawfare. Hosted on Acast. See acast.com/privacy for more information.

This is a special edition of the Bloomberg Daybreak: US Edition podcast. Subscribe to the show: on Apple: http://bit.ly/3DWYoAN on Spotify: http://bit.ly/3jGRYiB Anywhere: http://bit.ly/3J1bct9On today's episode: President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.See omnystudio.com/listener for privacy information.

This is a special edition of the Bloomberg Daybreak: US Edition podcast. Subscribe to the show: on Apple: http://bit.ly/3DWYoAN on Spotify: http://bit.ly/3jGRYiB Anywhere: http://bit.ly/3J1bct9On today's episode: President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.See omnystudio.com/listener for privacy information.

On April 2nd, a new slate of reciprocal U.S. tariffs are expected to take effect. President Trump has championed tariffs, saying they are needed in order to make things fair, to reduce the trade deficit and to bring manufacturing jobs back to the United States. But will his strategies work? Mary E. Lovely, of the Peter son Institute for International Economics, discusses the reasons behind and effectiveness of previous strategies on tariffs to explain how Trump's newest plans may pan out. Alex Ossola hosts. Further Reading Why Trump's Tariff Strategy Is Getting Riskier, According to Economists  How Trump's Trade War Is Playing Out At Breakneck Speed  Trump Previews Reciprocal Tariff Action Set for April 2  Trump's Tariffs on Canada, Mexico and China: Here's Where Things Stand  Trump's Tariff Onslaught Is Coming Faster Than His Team Can Carry It Out  Learn more about your ad choices. Visit megaphone.fm/adchoices

Wall Street thought Donald Trump was bluffing about his tariff plans. The stock market rallied after his election. But the reality has started setting in. Trump is doubling down on tariffs, even as he warned Americans that the economy may experience a “period of transition,” insisting this is just short-term pain.So what exactly is Trump's theory here? And how much pain should we expect?Answering those questions requires a bit of a tariffs primer. And the economist Kimberly Clausing kindly agreed to come on the show, walk through the basics, and help me make sense of what Trump is doing here. Clausing has modeled the possible costs and consequences of the tariffs Trump has proposed, and she breaks down how much you and I might end up paying. Clausing is a senior fellow at the Peterson Institute for International Economics, a professor at U.C.L.A. and the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.”This conversation contains strong language.Note: This conversation was recorded on Wednesday, March 5.Mentioned:We're taping an “Ask Me Anything” episode soon. You can email me at ezrakleinshow@nytimes.com with a question. Please use the subject like “AMA.” We'll consider any questions that are shared by the end of the day on Tuesday March 18.“The Real Reason President Trump Pushes Tariffs” by Kimberly ClausingAbundance by Ezra Klein and Derek ThompsonAbundance book tourBook Recommendations:The Undoing Project by Michael LewisMountains Beyond Mountains by Tracy KidderThe Worldly Philosophers by Robert L. HeilbronerThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Michelle Harris. Mixing by Isaac Jones, with Efim Shapiro and Aman Sahota. Our supervising editor is Claire Gordon. The show's production team also includes Elias Isquith, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Pat McCusker. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

Adam Posen, President of the Petersen Institute for International Economics discusses the outlook for inflation in the US and the Institute's recent research on tariffs. He speaks with Bloomberg's Tom Keene and Paul Sweeney.See omnystudio.com/listener for privacy information.

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/world-affairs

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/public-policy

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/politics-and-polemics

Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019), Kimberly Clausing takes on old and new skeptics in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together. At a time when borders are closing and the safety of global supply chains is being thrown into question, she outlines a clear agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy and establish a better partnership between labor and the business community. Kimberly Clausing holds the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law. During the first part of the Biden Administration, Clausing was the Deputy Assistant Secretary for Tax Analysis in the US Department of the Treasury, serving as the lead economist in the Office of Tax Policy. Prior to coming to UCLA, Clausing was the Thormund A. Miller and Walter Mintz Professor of Economics at Reed College. Professor Clausing is also a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. She has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Professor Clausing received her B.A. from Carleton College in 1991 and her Ph.D. from Harvard University in 1996, both in economics. Other New Books Networks interviews on related themes include Yale economist Penny Goldberg, former Chief Economist of the World Bank, on The Unequal Effects of Globalization, Princeton economist Leah Boustan on how immigrants have contributed to and rapidly assimilated into US society, and University of Massachusetts economist Isabella Weber on China's process of integration into the world economy. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/law

Apertura in rosso per le Borse europee sotto il peso della guerra dei dazi, che ieri ha mandato ko Wall Street e oggi ha fatto scivolare anche i mercati asiatici. Gli investitori sono diventati decisamente più avversi al rischio dopo che il presidente degli Stati Uniti Donald Trump ha confermato l entrata in vigore, da oggi, di dazi del 25% su Canada e Messico e il raddoppio delle tariffe sui prodotti cinesi (al 20%), ribadendo che il 2 aprile entreranno in vigore i dazi reciproci, a partire da quelli sui prodotti agricoli. Immediata la riposta di Pechino e Ottawa che hanno già annunciato le contromosse con tariffe sui prodotti statunitensi. L attenzione del mercato resta rivolta anche agli sviluppi delle prospettive di pace in Ucraina, dopo che gli Stati Uniti hanno sospeso gli aiuti militari a Kiev. Ne parliamo con Andrea Delitala, Head of Euro Multi Asset di Pictet Asset Management.La guerra dei dazi è cominciataSe i dazi sui prodotti europei sono ancora nella fase di una promessa minacciosa («Abbiamo preso la decisione, e la annunceremo a breve: saranno del 25%», aveva detto Donald Trump a fine febbraio, in occasione del primo consiglio dei ministri del suo governo), quelli contro Canada, Messico e Cina sono da oggi 4 febbraio una realtà. La guerra commerciale è dunque iniziata e i mercati finanziari sono già andati in tilt. L annuncio di ieri dei dazi trumpiani su un mercato di merci dal valore complessivo di 1.500 miliardi di dollari ha infatti innescato un crollo delle azioni globali e spinto al ribasso i rendimenti obbligazionari, mentre sono scesi sia il peso messicano che il dollaro canadese. Secondo Washington, queste misure vengono adottate a causa di inaccettabili afflussi di droga e migranti illegali negli Usa. Per quanto riguarda la Cina, secondo la Casa Bianca anche Pechino non ha preso alcuna misura per limitare le forniture di fentanyl agli Stati Uniti. Intanto, la Ue ha posto l accento sul fatto che la decisione di Trump rischia di interrompere il commercio globale, creando «inutili incertezze in un momento in cui la cooperazione internazionale è più cruciale che mai». Ma gli effetti negativi potrebbero manifestarsi nel giro di breve anche all interno degli Stati Uniti. Secondo gli economisti americani, i dazi su Canada e Messico, che da soli coprono un valore di oltre 900 miliardi di dollari di importazioni annuali verso gli Stati Uniti, rappresenteranno una grave battuta d'arresto per tutta l'economia nordamericana, che è altamente integrata. Il commento è di Mario Deaglio, professore emerito di Economia Internazionale Università di Torino e Lucia Tajoli, Professor of Economics and International Economics al politecnico di milano e Senior Researcher a ISPI.

In this episode of the Develop This Podcast, Dennis Fraise interviews Ryan Monarch Assistant Professor, Economics Department Syracuse University, an expert in international trade and economics, to discuss the complexities of tariffs and their implications on the economy. The conversation covers the definition of tariffs, their historical context, their role in modern trade, and the economic and consumer impacts. Ryan explains how tariffs can affect supply chains, consumer choices, and the overall market dynamics while also addressing the political motivations behind tariff implementation. The discussion highlights the challenges and uncertainties businesses face in a fluctuating tariff environment and the long-term effects of such policies on the economy. Takeaways A tariff is an increase in the price of imported goods. Tariffs have been a source of government revenue since the founding of the US. President McKinley was known for his pro-tariff stance. Tariffs are used to protect domestic industries from foreign competition. The scale of tariffs under President Trump is unprecedented in modern history. Higher tariffs can lead to increased prices for consumers. Tariffs can disrupt established supply chains and consumer choices. The burden of tariffs often falls on US importers, not foreign producers. Economists generally believe that tariffs create more losers than winners. The long-term effects of tariffs on the economy can take years to understand fully. Learn. Explore. Activate in Place. (LEAP) | Cleveland, Ohio | June 9–13, 2025 LEAP into innovative economic strategies on an in-person learning trip!  NGIN will select teams, each consisting of 2-4 economic and community leaders from cities with populations between 50,000 and 500,000, to explore Community Wealth Building and Inclusive Capital in Cleveland, OH. In addition, participants will have the opportunity to create their own action plan to bring back to their city.  Selected participants will have all travel expenses covered for this immersive learning experience. NGIN will also handle all trip logistics.  Ryan Monarch researches buyer-supplier relationships in international trade and how the recent tariff war affected U.S. exports and supply chains. He served as a Principal Economist for the International Finance division of the Board of Governors of the Federal Reserve from 2014-2021. His work has been published in the Review of Economics and Statistics, the Journal of International Economics and other publications. His research has been cited by The Wall Street Journal, The New York Times, Bloomberg, The Economist and Reuters, among others. He received a Ph.D. in economics from the University of Michigan in 2014.

On WSJ's Take On the Week, co-host Telis Demos talks with reporter Miriam Gottfried about what is driving a slide in 10-year Treasury yields. Then they get into the upcoming jobs report and whether any DOGE-related shakeups in the federal workforce could be reflected in the data. They also discuss the flurry of tariff-related developments ahead of a deadline this week for proposed taxes on imports from Canada and Mexico. Later on the show, Telis dives into what President Trump's tariff agenda could mean for the economy and markets with Chad Bown, a senior fellow at the Peterson Institute for International Economics and former chief economist for the U.S. Department of State in the Biden-Harris administration.  This is WSJ's Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street's banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We'd love to hear from you. Email the show at takeontheweek@wsj.com.  To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com  Further Reading   To read more from co-host Telis Demos, catch up on PayPal Needs Help From Its Oldest Friends—Consumers. The Economy Is Still Fine. Americans Are Still Gloomy  For more coverage of the markets and your investments, head to WSJ.com, WSJ's Heard on The Street Column, and WSJ's Live Markets blog.  Sign up for the WSJ's free Markets A.M. newsletter.  

If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn’t be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump’s protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller’s Day Off” and Roomba vacuum cleaners! Later, one listener’s call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine’s Day. Here’s everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn’t be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump’s protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller’s Day Off” and Roomba vacuum cleaners! Later, one listener’s call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine’s Day. Here’s everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President Donald Trump may have hit pause on tariffs against Mexico and Canada, but his trade penalties on China are still in place. That includes a 10 percent tariffs on all Chinese imports, including consumer electronics and other tech products. On POLITICO Tech, host Steven Overly talks to Chad Bown, a senior fellow at the Peterson Institute for International Economics, about the implications for tech companies and online retailers in both the U.S. and China. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S., Canada and Mexico all agreed to delay the start of new tariffs and hold off for now the possibility of a tariff war among traditional allies. But significant new tariffs are still expected to take effect on Chinese goods. For perspective on the impacts of the Trump administration's tariff policy, Geoff Bennett spoke with Mary Lovely of the Peterson Institute for International Economics. PBS News is supported by - https://www.pbs.org/newshour/about/funders

With a second Trump administration on the horizon, we're bracing for a return to the same failed trickle-down policies that have dominated our politics for 50 years—policies that enrich the wealthy few at the top while leaving everyone else behind. That's why we're resharing our 2022 conversation with Mark Blyth, a political economist who explains why trickle-down economics refuses to die and how it continues to shape our world. In this episode, Mark exposes the myths behind these harmful ideas and makes a compelling case for a new economic paradigm. This episode originally aired on October 11, 2022. Mark Blyth is a political economist, professor, author and the Director of the William R. Rhodes Center for International Economics and Finance at Brown University. He is the author of several influential books, including Austerity: The History of a Dangerous Idea and Angrynomics (co-authored with Eric Lonergan), and he's the co-author of a forthcoming book, Inflation: A Guide for Users and Losers. Further reading:  Inflation: A Guide for Users and Losers Angrynomics Austerity: The History of a Dangerous Idea Website: http://pitchforkeconomics.com Instagram: @pitchforkeconomics Threads: pitchforkeconomics Bluesky: @pitchforkeconomics.bsky.social Twitter: @PitchforkEcon, @NickHanauer, @civicaction YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Substack: The Pitch