Cameron Abadi and Adam Tooze
U.S. stock markets have lost some $5 trillion in the three weeks since U.S. President Donald Trump initiated a series of trade wars. Tariffs have been raised against multiple countries on various products. Trump has lashed out in various directions, often rescinding tariffs only to threaten to reimpose them and doing so with allies, competitors, and adversaries alike—from China, to Canada, to Europe. Anyone who had thought the administration would only use tariffs as a threat was quickly disabused of that notion.
What sort of information do falling stock markets convey about tariffs? Should the United States want the jobs that tariffs promise to bring back? And does Trump’s agenda call into question the post-neoliberal project embraced by some Democrats?
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