Marta Bengoa

After Supreme Court Ruling, Trump Tariffs Continue with More Constraints

After Supreme Court Ruling, Trump Tariffs Continue with More Constraints

By Marta Bengoa

Using outdated balance-of-payments provisions designed for fixed exchange rates makes no sense under current monetary arrangements. Trump can continue imposing tariffs within constitutional boundaries, but the constraints now bind more tightly. Whether this leads to a more sensible trade policy or simply shifts chaos to different legal authorities remains to be seen.

The India-EU Trade Deal: Two Billion People, One Economic Hedge

The India-EU Trade Deal: Two Billion People, One Economic Hedge

By Marta Bengoa

The India-EU free trade agreement will connect over two billion people across a market representing nearly a quarter of global GDP. But the real story isn't about size. It's about timing. After seventeen years of false starts and negotiations, both parties finally grasped what's at stake: in a world fragmenting between Washington's capricious tariffs and Beijing's economic coercion, this deal is economic insurance.

Trump's Greenland Reversal: From Tariff Threats to Negotiation

Trump's Greenland Reversal: From Tariff Threats to Negotiation

By Marta Bengoa

Speaking at Davos, Trump first ruled out using military force to acquire Greenland (after weeks of refusing to do so), then hours later announced what he called a "framework of a future deal" with NATO on Arctic security. Whether the framework leads to substantive Arctic security cooperation or remains another example of Trump declaring victory without achieving objectives, the damage to transatlantic economic relations has been done.

The 2025 Tariffs Have Hurt U.S. Manufacturing, Employment, and Consumers

The 2025 Tariffs Have Hurt U.S. Manufacturing, Employment, and Consumers

By Marta Bengoa

Rather than reviving American manufacturing and boosting employment, the data from Trump’s “Liberation Day” tariffs tell a story of job losses in manufacturing, stagnant productivity in that sector, higher inflation across the economy, and economic uncertainty on a scale not seen in decades.

U.S. Tariff Windfall Cannot Compensate for Jobs, Costs, Debt, and Inefficiencies

U.S. Tariff Windfall Cannot Compensate for Jobs, Costs, Debt, and Inefficiencies

By Marta Bengoa

The current situation demands acknowledgment that trade and monetary policy operate as interconnected systems, not isolated levers that can be pulled independently. A coherent approach would acknowledge that the United States’ economic strength derives from its integration into global supply chains, not isolation from them.