How’s the trade war going? Short answer: as badly as expected. Capricious tariffs have shown the rest of the world that the US cannot be trusted. And they have pushed trading partners away and closer

ON THE CAMPAIGN TRAIL, PRESIDENT DONALD Trump made lofty claims about the benefits of raising tariffs. They will reshore American manufacturing jobs and encourage domestic spending, he promised. “Tari

FOUR WEEKS BEFORE THE BEGINNING of his second term as President, Donald Trump abruptly floated the idea of taking back the Panama Canal. It had been a quarter-century since the U.S. formally ceded to

The development and future of capitalism

“The failure of economists to forecast recessions is virtually unblemished,” notes Prakash Loungani, assistant director at the International Monetary Fund (IMF). This includes the economists at the IM

We are in a real-life game of Risk. In 2019, Fiona Hill, an official at the US National Security Council during Donald Trump’s first term, said the Russians had informally proposed a plan whereby they