Several fundamental conditions are widely presumed necessary for a country to enjoy the benefits of global trade. One condition is that import activity ought not exceed export activity.1 Put more simply, we must sell more...more
On April 2, 2025, President Trump signed an Executive Order (EO) imposing reciprocal tariffs on most nations. The new tariffs, which include a baseline rate of 10 percent as well as higher rates for dozens of trading...more
The first two days of the new Trump administration were marked by pronouncements that portend short-run uncertainty about the tariff environment. Although President Trump’s past statements had led many people to expect he...more
Requires a variety of reports and recommendations to be delivered to the President by April 1, 2025: on the causes of the persistent trade deficit, how to establish the External Revenue Service, unfair foreign trade...more