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piie.com
The Peterson Institute for International Economics is a nonpartisan, independent research institution devoted to studying international economic policy. Explore our research: piie.com
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After the Oval Office fireworks between Trump and Zelensky, it's not clear what the path forward will be for the US-#Ukraine deal. But to the extent it revolves around critical minerals, it's open question what kind of bounty is there. My latest for @barrons.com. www.barrons.com/articles/ukr...

I think the Trump Admin will have the Congress pass across-the-board tariffs. Then Trump will negotiate bilaterally on top by sector or country. It is a big risk to consumers (as well as just bad policy). Video on @cnbc.com with KellyEvans @steveliesman.bsky.social youtu.be/alF8y3xI4zE?...

Trump's Executive Order on investment is aimed at making it easier for US allies to invest in US but harder for China & US to invest in each other, via inbound investment security, outbound investment restrictions, & revisiting terms of Chinese firms in the US.

25% tariffs on Mexico & Canada, + the 10% tariffs that are already in effect on China, could cost the typical American household more than $1,200 per year. #PIIECharts Learn more: www.piie.com/research/pii...

More than 40% of US imports of wood products come from Canada, & over 70% of gypsum & lime are sourced from Mexico. #PIIECharts Learn more about what imports from Canada & Mexico would be hit the hardest by Trump's threatened tariffs: www.piie.com/research/pii...

We love our data viz team 🥹🫶

icymi (we published it late yesterday) Trump's Trade War Timeline 2.0: An Up-to-Date Guide 👇

i forgot to show the picture of our brand new Trump trade war timeline 2.0 (it's VERY pretty)

We're glad @chadbown.bsky.social is back at @piie.com. Once you read this, you will be too if you weren't already! Trump's Trade War Timeline 2.0: An Up-to-Date Guide

NEW: @gagnonmacro.bsky.social finds that in a framework that allows for multiple factors influencing trade balances, fiscal policy & exchange rate policy are the most important drivers of trade imbalances. #PIIECharts

NEW!!! You asked, we listened: Trump's Trade War Timeline 2.0: An Up-to-Date Guide Bookmark it! www.piie.com/blogs/realti...

🚨BACK BY POPULAR DEMAND🚨 (& also because everything happens so much) Trump's trade war timeline 2.0: an up-to-date guide—bookmark this page to follow US trade actions during President Trump's second term. Filter by country & topic: www.piie.com/blogs/realti...

roll the tape

NEW EPISODE Shipments of small packages from China have skyrocketed, but the ‘de minimis’ policy that excludes them from tariffs may soon end. This week’s show explores the history of this quirky US tariff policy plus the economics of Trump shutting it down. tradetalkspodcast.com/podcast/203-...

NEW: @gagnonmacro.bsky.social finds that tariffs are associated with *increasing* trade deficits, & that higher tariffs ultimately reduce US exports. Learn more: www.piie.com/blogs/realti...

putting together our annual report like

Our guide to the #USMCA has been updated with details on the farm, digital, & investment provisions likely to be renegotiated. Check it out: www.piie.com/microsites/2...

Want to hear more about the risks that Trump 2.0 pose to the global financial system? You're in luck 👇 • Tune in next Wednesday for this @piie.com conversation with Charles Goodhart and @veron.bsky.social • More info and registration here (there will also be a replay): https://buff.ly/41560fA

We are once again reminding you that it is literally impossible for tariff revenue to fully replace income taxes. Read: www.piie.com/blogs/realti...

This is today! Register to watch live & ask questions at 10:30 AM here: www.piie.com/events/2025/... Or subscribe to the podcast to listen whenever!

TOMORROW, Feb. 20: Join us for PIIE Insider LIVE, where Anjali V. Bhatt chats with Yeo Han-koo about challenges facing South Korea's economy among political turmoil, Trump 2.0, & more. Register to ask questions live or subscribe wherever you get podcasts: www.piie.com/events/2025/...

🎧 Listen at the links below or wherever you get your podcasts! #EconSky

🌏 @mdebolle.com speaks to @danielyergin.bsky.social on LNG exports & how LNG could play a useful role in the green transition: policyfortheplanet.com/can-liquefie... 🗨️ @anaswanson.bsky.social joins @chadbown.bsky.social to explain steel/aluminum tariffs 2.0: tradetalkspodcast.com/podcast/202-...

The US has become the world’s biggest exporter of LNG, but will this surge hurt climate change? Renowned energy expert and Pulitzer Prize-winning author Daniel Yergin (S&P Global) joins Policy for the Planet: @piie.com policyfortheplanet.com/can-liquefie...

The dangers of a trade policy in which a president chooses targets & punishments at will are becoming increasingly clear. Economic coercion often works in the short run, but it slowly erodes one’s network of influence. Read Mary Lovely in @nytimes.com:

The latest Must Read from PIIE's Olivier Blanchard and Jean Pisani-Ferry: Europe's challenge and opportunity: Building coalitions of the willing www.piie.com/blogs/realti...

My @piie.com colleague Mary Lovely in the @nytimes.com today on the pitfalls of arbitrary trade policy. Strong-arm leverage tactics make work short-term but have bad long-term consequences. What's the saying: a moment of pleasure, a lifetime of regret? www.nytimes.com/2025/02/14/o...

"The US shouldn’t have stupid tariff policies just because other countries have stupid tariff policies." Reciprocal tariffs amount to outsourcing US tariff policy to other countries, @douglasirwin.bsky.social writes in @wsj.com. So much for deciding what’s in our own national interest.

As Congress revs up for tax policy debates, @kclausing.bsky.social lays out 8 principles that both parties should be able to agree on. #EconSky Read more here: www.piie.com/publications...

🧵 (1/9) In a new brief, I suggest 8 common sense principles for the coming 2025 tax debate. These seek to inform the search for common ground in the time ahead, even if the present moment is far from bipartisan. Posts follow for each principle.

NEW: Olivier Blanchard & @pisaniferry.bsky.social explore with climate action, trade, & taxing MNCs how the EU, or at least members ready, can & should work with non-EU countries to form 'coalitions of the willing' to uphold the rules-based international order. Read: www.piie.com/blogs/realti...

A US sovereign wealth fund? A confused solution to an undefined problem, writes PIIE's Adnan Mazeri www.piie.com/blogs/realti...

Without robust governance, a US sovereign wealth fund is more likely to divert funds from one area to another & crowd out, not mobilize, new private investments. It risks large-scale distortions & capture by special interests & could well increase US public debt. Read: www.piie.com/blogs/realti...

Newsflash for Trade Nerds! Chad Bown is back at PIIE, and so is his hit podcast "TRADE talks" wherever you get your podcasts. Here is the newest episode: tradetalkspodcast.com/podcast/201-...

I talk tariffs, trade deficits, and a lot more with @scclemons.bsky.social. t.co/5aT8g0WGSV

“USAID built a vast array of programs to help families foresee and adjust to climate shocks without migrating,” I told the @nytimes.com. Ending those programs “leaves migration as the only viable way for many families in the Western Hemisphere region to cope.”

LET'S GOOOOOOOOOOOOOOOOOOOOOOOOOO

The US-Africa trade relationship is at a crossroads, and scrapping #AGOA isn't the answer. My thoughts for @piie.com on what’s really at stake: 🔗 piie.com/blogs/realti... #TradePolicy #Africa #AGOA #Econsky

TOMORROW, February 12: Michael Froman & Bernd Lange join @ceciliamalmstrom.bsky.social on #PIIETradeWinds to discuss the bumpy road transatlantic relations face, what steps on trade policy the EU could take next, & more. Info & register: www.piie.com/events/2025/...

Q: Does a trade deficit serve as a good measure of a country's economic strength or weakness when it comes to trade? Mary Lovely: It's a very simple answer. No. Listen to the @npr.org interview here: www.npr.org/2025/02/09/n...

Ireland collects much of the corporate tax revenue a more coherent US tax code would channel back across the Atlantic. Ireland could also be in the firing line as a major & growing contributor to the US trade deficit—now 4th in the world. By @phonohan.bsky.social: www.irishtimes.com/opinion/2025...

Letting a trade act expire won’t fix the US-Africa trade deficit, writes Cullen Hendrix for PIIE www.piie.com/blogs/realti...

The best way for the United States to promote US exports in Africa is to help Africans be more able to afford them. Ending the African Growth & Opportunity Act #AGOA would not help in that endeavor, writes @cullenhendrix.bsky.social. Read: www.piie.com/blogs/realti...

The US has trade deficits with #AGOA countries, 85% of which is with major commodity exporters. Ending AGOA won't fix that, and it will make it harder for US exports in Africa to grow. My latest for @piie.com #Econsky www.piie.com/blogs/realti...

🗣TRADE TALKS IS BACK🗣 Chad Bown is back 'cause tariffs from the new president call for an emergency relaunch of the longstanding trade podcast. #EconSky, smash that play button and/or subscribe wherever you get podcasts: tradetalkspodcast.com/podcast/201-...

My latest for @piie.com: Would hitting the 5 percent target make the US a more faithful ally? This is the fundamental question facing #NATO and, by extension, all other US allies.

Trump’s 5% target might make for good politics & line the pockets of arms manufacturers in the US & abroad, but smart NATO defense means investing in resilience, not just ramping up spending to satisfy US demands, writes @cullenhendrix.bsky.social. Read: www.piie.com/blogs/realti...