America Is Taxing Its Own Supply Chain
Tariffs can extract concessions, as the latest US-Canada negotiations confirm. The problem is that, against Canada, they can also produce something considerably more damaging: higher...
Tag: tariff
Copper’s Rally Is More Than an AI Story
Copper is once again making headlines, approaching a record close on the London Metal Exchange after another powerful rally. While the market continues to focus...
Emerging Markets Enter the Perfect Storm
For much of the past year, investors had begun to believe that emerging markets were finally emerging from the shadows of the post-pandemic monetary cycle....
When Regulation Becomes a Trade War
The latest threat from Donald Trump to impose additional tariffs on European goods marks a significant escalation in the transformation of trade policy into an...
The Return of the Inflation Triangle
The global economy is entering a new inflationary phase, not because one single shock has overwhelmed the system, but because three distinct forces are beginning...
Tariffs Are No Longer About China
The latest increase in US tariffs on Chinese imports appears, at first sight, almost anticlimactic. The Trump administration has raised the effective tariff on Chinese...
Tariffs, Forced Labour and the Slow Fragmentation of Globalisation
For decades, the United States sold globalisation as an economic religion. Free trade was presented as inevitable. Supply chains were optimised across continents. Manufacturing migrated...
The Tariff King Meets the Law
Donald Trump’s tariff empire has suffered another judicial humiliation. A federal trade court has ruled that his global 10% tariffs were illegal, cutting into one...
NATO, Tariffs and the Slow Divorce of the Atlantic Alliance
The United States is no longer simply asking Europe to spend more on defence. It is starting to make Europe pay for disobedience. Donald Trump’s...