President Trump’s shake-up of the global trade system has sent tremors through the long-held view that the United States is the source of the world’s safest financial assets. That’s created an opportunity for Europe. The market tumult in which investors simultaneously sold off the U.S. dollar, American stocks and U.S. …
On the sidelines of the spring meetings of the International Monetary Fund and World Bank this week, Treasury Secretary Scott Bessent tried to convey an important message about the United States dollar. Speaking to a crowd of global policymakers, regulators and investors, Mr. Bessent sought to allay fears that had …
The trade battle intensifies There’s no letup in sight to the trade war: This morning, China raised its tariffs on U.S. imports yet again. Beijing said it would not make economic sense to raise them further, and called the Trump administration’s dizzying tariffs barrage “a joke.” And this morning, Tesla …
Not just tough talk President Trump wasn’t bluffing, after all. Global markets plunged on Tuesday after U.S. tariffs went into effect on roughly $1.5 trillion worth of imports from Canada, Mexico and China, with another, and even broader, wave set to kick in as soon as next week. China and …
To President Trump, one economic number represents everything that is wrong with the global economy: America’s trade deficit. That deficit is the total value of what the United States imports from other nations, minus its exports to other countries. The fact that America runs a trade deficit reflects how the …