A central insight from neoclassical economics is that international trade operates like an improvement in production technology. It generates mutual aggregate welfare gains for countries as a whole, ...

The Trump administration is finally confronting the complicated reality of its complex and costly tariff policies. Oh, not when it comes to collecting those tariffs. The administration is happy to ...

When President Donald Trump stated that a judicial rollback of his sweeping tariff program would be “1929 all over again, a GREAT DEPRESSION,” he placed a legal ruling at the center of a dramatic ...

The change in the average U.S. tariff rate in 2025 was the largest in the modern era. One way to assess the effects of such a large shock on unemployment and inflation is by looking at data from ...

WASHINGTON — U.S. and foreign officials, corporate executives, analysts and investors had begun to hope the tumultuous U.S. trade policy reversals of last year were finished. Now they face rekindled ...