Cameron Abadi and Adam Tooze
Since U.S. President Donald Trump announced his “Liberation Day” tariffs on countries around the world, the United States has experienced a stock market crash, a bond market crash, a blizzard of recession predictions, contemplations of catastrophe of various kinds, and then a sudden policy reversal and a fragile reprieve on financial markets. What’s left is an outright trade war with China and the outlines of a new global economic status quo.
How did we end up with a policy of decoupling from China? What have we learned about Trump’s understanding of power? And does Trump ultimately want the U.S. economy to look like China’s?
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