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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Using outdated balance-of-payments provisions designed for fixed exchange rates makes no sense under current monetary arrangements.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.

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.

UK, India Could Be Relative Beneficiaries of Trump’s Tariff War

UK, India Could Be Relative Beneficiaries of Trump’s Tariff War

By Dhruva Jaishankar

Trump’s April 2 announcement has already roiled financial markets, and the global economy will continue to be adversely affected both by the implementation of tariffs and by uncertainty as negotiations proceed. But while there will be no immediate winners, some parties appear relatively better off.