Trade-war tariffs circa 2018-19 “tax imports that have no obvious relationship to the cause for the original action,' Mary Lovely 🇺🇦 says.

“The structure of the trade-war tariffs raises basic questions about their efficacy & the fairness of their design.'
scmp.com/news/china/art…

The bulk of countries are more closely aligned with China’s ideal point in the UN General Assembly than with the US. Whereas countries voting in alignment with the US are liberal democracies, countries voting with China are across the governance spectrum. piie.com/blogs/realtime…

In a follow-up to their 2023 paper about the drivers of pandemic-era US inflation, @BenBernanke & Olivier Blanchard worked with 11 central banks to study the recent inflation in their economies & subsequent recoveries.

Read it here: piie.com/publications/w…

China is widely expected to retaliate against the latest US tariffs. This could trigger a full-scale trade war & possibly a broader geopolitical conflict, but India & others stand to expand their foothold in Western markets as Chinese manufacturers weaken.
project-syndicate.org/commentary/us-…

The most probable future for Europe's EV sector would be the EU capping EV imports from China, hosting a rising share of Chinese-brand EVs made & sold in the EU, plus a continued presence of EU brands in China & some high-end German EVs exported to China.
piie.com/blogs/realtime…

“More significant is the signaling effect [of the tariffs] to the rest of the world that no matter who occupies the White House, the overall policy direction of America First & a partial decoupling with China will continue,” Yeo Han-koo says. bloomberg.com/news/articles/…

Next Thursday, join us for a lecture by IFPRI Board Chair Pascal Lamy, who will focus on past, present, and possible future dynamics of agrifood trade and evolving implications for developing countries.

In-person/online 🎟️ bit.ly/Agri-food-

Peterson Institute CGIAR

US threats to impose tariffs on countries perceived to have weak currencies would introduce further uncertainty into global trade, potentially damaging investment and growth, notes Peterson Institute’s Maurice Obstfeld. bit.ly/3wqKfLP

Despite its small size in terms of overall US trade, the Port of Baltimore is an important entry & exit point for selected commodities because ports typically specialize. #PIIECharts
Learn about how much the Port's closure is disrupting US trade: piie.com/blogs/realtime…

.Olivier Blanchard & Ben Bernanke find pandemic-era inflation globally was due primarily but not persistently to supply disruptions/food & energy price increase. Tight labor markets & rise in nominal wages are now relatively more important sources of inflation.piie.com/publications/w…

My Project Syndicate piece on the escalating US-China trade conflict and its potential impact on third countries: project-syndicate.org/commentary/us-…

.Douglas Irwin joined NPR to explain the three R's of tariffs: revenue, restriction and reciprocity.
Listen here:
npr.org/2024/05/23/119…

As supply shock effects subside, tight labor markets & resulting rise in nominal wages have become more important sources of inflation. In some countries, curbing wage inflation & returning price inflation to target may require modestly higher unemployment.piie.com/publications/w…

The European Commission may impose tariffs on Chinese EVs if an investigation finds China's subsidies of its EV industry provide legal justification. 20% tariff, the norm, may not reduce profits enough for Chinese EV exporters to stop selling EVs in Europe.piie.com/blogs/realtime…

“If there is any truth to the joke that China is the only country in history with a comparative advantage in every industry, then targeting the world’s most efficient exporter w/ tariffs could create lucrative opportunities for its competitors.” My latest: project-syndicate.org/commentary/us-…

Despite its small size in overall US trade, the Port of Baltimore is an important point for some commodities & logistical disruptions continue to be significant. Questions remain on how well other ports might absorb it’s share of trade. #PIIECharts
More: piie.com/blogs/realtime…

The US should remove import taxes that offer no strategic value & to ease a burden felt by working Americans, Mary Lovely 🇺🇦 says, like sectors “where we think China [and] Chinese companies may have benefited from forced technology transfer.' scmp.com/news/china/art…

When studying economies' inflation, @BenBernanke and Olivier Blanchard write that 'the commonalities dominate the differences.'
Still, 'the inflation story is not complete as of this writing, however, and the ultimate outcomes remain to be seen.'
piie.com/publications/w…

Tariffs are back ....I talk about the three R's of tariff history, revenue, restriction, and reciprocity with NPR's NPR's Planet Money ⤵️ npr.org/2024/05/23/119…

Though inflationary effects of tight labor markets were initially much smaller than
effects from price shocks, they were more persistent. As the shocks to prices faded or reversed, wage inflation became the larger factor behind remaining price inflation.piie.com/publications/w…