Institute for International Economics

Ahead of US president Donald Trump and Chinese president Xi Jinping’s meeting, Chad P. Bown discusses the state of the US-China trade relationship, explaining how US imports from China and exports to China have fallen dramatically since the beginning of the second Trump administration.

We argued last year that it was time to create a deep, large, and liquid market for Eurobonds (Blanchard and Ubide 2025). Since then, there has been growing support for the initiative, not just from think tanks and academics (Hildebrand, Rey, and Schularick 2025) but notably from the European Central Bank (ECB) (Lane 2026), the Bundesbank (Nagel, Politico, February 2026), and some EU governments (Cuerpo, in the Financial Times, February 2026, and at PIIE event).
In this update, we discuss why... Читать дальше...

Get used to President Donald Trump's comprehensive tariffs. Though the president's across-the-board tariffs imposed under his emergency powers were invalidated by the Supreme Court in February, the new more specific tariffs imposed in their place are likely to remain in place at least until a new administration takes office in January 2029. Why has it proven so difficult to end tariffs imposed by presidential action? They are not mandated by the Constitution. The tariff power rests with Congress... Читать дальше...

Chad P. Bown joins LiveNOW from Fox to discuss how the upcoming Trump-Xi meeting is about both economics and global power, the state of the US-China trade relationship, technology competition, how supply chains have changed since the beginning of the second Trump administration, and more. 
Video excerpt published with permission of LiveNOW from FOX.

The EU-Mercosur Trade agreement, which took effect on May 1, eliminates tariffs on nearly all goods between the European Union and Argentina, Brazil, Paraguay, and Uruguay. The headlines have focused mostly on agriculture and industrial tariffs. Less well understood is how the accord reinforces or constrains Brazil's national artificial intelligence (AI) plan, the Plano Brasileiro de Inteligência Artificial (PBIA), and its ambitious technology policy launched in July 2024. The answer is mixed in... Читать дальше...

The Peterson Institute for International Economics hosts a timely virtual briefing on US-China trade and tech policy, just ahead of the anticipated high-level summit between Presidents Donald Trump and Xi Jinping. With extensive public focus on tariffs, this session provides a clear, evidence-based update on the broader state of US-China economic and technology relations, drawing on the latest data and analysis from PIIE experts.
Chad P. Bown presents fresh 2025 trade flow insights from his upcoming... Читать дальше...

Soon after the Supreme Court struck down one set of President Donald Trump's tariffs in February, he imposed a second set that now faces legal challenges. The Court of International Trade (CIT) recently heard oral arguments in two cases on plaintiffs' requests for an injunction preventing the United States from collecting the new duties. During that three-hour window into the judges' thinking, their questions indicated they were unlikely to grant the request. So the cases will probably go to the next round for further argument. Читать дальше...

Globalization is not dying. It is being rebuilt. When the United States and China weaponized trade in 2025, many feared the collapse of the global economy. Markets plunged, supply chains fractured, and policymakers spoke openly of economic warfare. But the collapse never came.
In his new book, World War Trade, published by the Centre for Economic Policy Research, Richard Baldwin argues that the real story is not the conflict between superpowers but how the rest of the world responded. Through quiet restraint... Читать дальше...