The world turns even if America doesn’t. That’s certainly true on trade, where a rebranded Trans-Pacific Partnership has begun with the new year in 11 countries two years after President Trump withdrew. The biggest losers are American producers.
Investors supposedly hate uncertainty, but the uncertainty of a 90-day delay to extra tariffs on China turned out to be better than the certainty of extra tariffs. Stocks soared Monday and the dollar weakened as markets welcomed the cease-fire over the weekend in the U.S.-China trade war.
Hoover Institution fellow Larry Diamond talks about US Treasury Secretary Steven Mnuchin's comment that China has agreed to eliminate tariffs on imported automobiles and White House economic adviser Larry Kudlow's comment that the US and China are “pretty close” to an agreement on stopping intellectual property theft.
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.