Why the Economic Disruption From Trump’s Tariff War Will Be Hard to Reverse
The president’s turnover of the economic order has unleashed changes that could prove lasting, because other countries will adjust.
The president’s turnover of the economic order has unleashed changes that could prove lasting, because other countries will adjust.
Vivid Brands/ShutterstockUncertainty is everywhere these days.
There is even uncertainty about the uncertainty.
The Reserve Bank of Australia, for example, noted in the minutes from its April 1 meeting:
Howard Lutnick, the secretary of commerce, has become a go-to for major companies seeking relief from tariffs. But he’s not always friendly to their interests.
When US president Donald Trump took office in January he inherited a strong economy, which was growing faster than those of many of its rivals. Nevertheless, he won the election in November on the back of strong voter dissatisfaction with the economy, especially the cost of living. This is the legacy of high inflation sparked first by COVID and then Russia’s invasion of Ukraine.
Posters in Tokyo’s enormous Shinjuku railway station are normally used for advertising commodities like cosmetics and food, as well as new films. But occasionally you may happen across a poster with a birthday message and a picture of a young man, often from a boy band and typically with impeccable looks.
These posters are created by specialised advertising companies and are paid for by adoring fans. They are part of a phenomenon called oshikatsu, a term coined in recent years that is made from the Japanese words for “push” and “activity”.
It’s telling that U.S. President Donald Trump’s administration wants to fire bureaucrats.
Airline passengers wait at a Transportation Security Administration checkpoint before boarding to flights in Denver in 2022. Patrick T.
Building activity started 2025 with a sharp decrease of 17 percent year-on-year (YoY) in January, after a rise of 15.6 percent in December, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Monday.
The government’s efforts to turn the media and public’s attention away from the Tempe issue, which dominated the agenda during the first quarter of the year, continues with the promise of more voter-friendly measures to come.
This box provides a model-based analysis of the impact of discretionary fiscal policy measures on economic growth and inflation since the start of the COVID-19 pandemic, as reflected in the March 2025 ECB staff macroeconomic projections for the euro area. Fiscal policy lent substantial support to the euro area economy in response to the pandemic and the energy crisis, while adding to public deficits and debt.