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Trump’s Trade War

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PS editors, Ian Bremmer, Aziz Huq, Dani Rodrik, Gabriel Zucman, Kenneth Jacobs, Raghuram G. Rajan, Carla Norrlöf

Less than two months into his second presidency, Donald Trump has imposed sweeping tariffs on America’s three largest trading partners, with much more to come. This strategy not only lacks any credible theoretical foundations; it is putting the US on a path toward irrevocable economic and geopolitical decline.

  1. GettyImages-2176801438 TANG CHHIN SOTHY/AFP via Getty Images

    The Global South’s Path to Economic Resilience

    Anwar Ibrahim

    Today's profound global uncertainty is not some accident of history or consequence of values-free technologies. Rather, it reflects the will of rival great powers that continue to ignore the seminal economic and social changes underway in other parts of the world.

    explains how Malaysia and other middle powers are navigating increasingly uncertain geopolitical terrain.
  2. coyle38_DrAfter123Getty Images_AI DrAfter123/Getty Images

    Diane Coyle on innovation, AI, economic data, and more

    Diane Coyle suggests ways to account for “free” digital services in economic frameworks, considers how to prevent the emergence of AI monopolies, warns that cutting funding for basic research is tantamount to destroying the US economy’s foundations, and more.
  3. sierakowski116_Andrew HarnikGetty Images_trumpvancezelensky Andrew Harnik/Getty Images

    Saving Ukraine

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    PS editors , Carl Bildt , Sławomir Sierakowski , Andrew Kosenko , Joseph E. Stiglitz , Harold James , Nicu Popescu , Anastassia Fedyk , Emilia Marshall

    By choosing to side with the aggressor in the Ukraine war, President Donald Trump’s administration has effectively driven the final nail into the coffin of US global leadership. Unless Europe fills the void – first and foremost by supporting Ukraine – it faces the prospect of more chaos and conflict in the years to come.

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    PS Quarterly

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    Abundance and Its Discontents

    James Livingston asks why the absence of economic scarcity is viewed as a problem rather than a cause for celebration.
  6. op_jilevy4_Robert Daemmrich Photography IncCorbis via Getty Images_obamahope Robert Daemmrich Photography Inc/Corbis via Getty Images

    The Opacity of Hope

    Jonathan Levy reflects on how the politics promoted by America’s first Black president gave rise to its first felonious one.
  7. bp munich security conference Photo by Johannes Simon/Getty Images

    America’s Stab in the Back

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    PS editors, Tobias Bunde, Joschka Fischer, Philippe Legrain, Daniela Schwarzer, Sławomir Sierakowski, Mark Leonard, Friedrich Merz

    “There’s a new sheriff in town,” declared US Vice President J.D. Vance at this year’s Munich Security Conference. With his boss, “Sheriff” Donald Trump, openly disparaging America’s longstanding security commitments and actively undermining European security, the United States can no longer be trusted, and it is up to Europe’s leaders to bolster the continent’s defense capacity – and fast.

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    Ian Buruma on Gaza, Trump, authoritarianism, and more

    Ian Buruma says there is no chance US democracy will emerge from Donald Trump’s second administration unscathed, explains why the left is losing the culture war in the US and Europe, touts the enduring importance of the humanities, and more.
  9. oneill128in McNameeGetty Images_trump Win McNamee/Getty Images

    There Goes America

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    PS editors , Richard K. Sherwin , J. Bradford DeLong , Ian Buruma , Orville Schell , Peter Singer

    Within his first month back in the White House, Donald Trump has upended US foreign policy and launched an all-out assault on the country’s constitutional order. With US institutions bowing or buckling as the administration takes executive power to unprecedented extremes, the establishment of an authoritarian regime cannot be ruled out.

  10. op_janeway18_DrAfter123Getty Images_AI DrAfter123/Getty Images

    In AI We Trust?

    William H. Janeway explains why even cutting-edge innovations are not immune to the world’s inherent unpredictability.
  11. op_malmendier1_ INA FASSBENDERAFP via Getty Images_germanyrailway Ina Fassbender/AFP via Getty Images

    Germany at a Crossroads

    Ulrike Malmendier, et al. urge policymakers to pursue bold structural reforms, rather than clinging to an outdated growth model.
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    Daniel Gros on DeepSeek, Germany's malaise, EU competitiveness, and more

    Daniel Gros hopes that a Chinese startup's apparent AI breakthrough will provide a much-needed boost to European competitiveness, advises the EU on how to deal with Donald Trump, urges Europe to improve conditions for bottom-up innovation, and more.
  13. bp deepseek Photo illustration by Anthony Kwan/Getty Images

    Why Does DeepSeek Matter?

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    PS editors, Daron Acemoglu, Charles Ferguson, Angela Huyue Zhang, Amar Bhidé

    Chinese tech startup DeepSeek’s release of a high-performance, low-cost artificial-intelligence platform has roiled financial markets and raised fundamental questions about the business models of American AI giants. Will the technology turn out to be a boon for competition in a critical industry, or should it be viewed as a geopolitical shot across the West’s bow?

  14. op_shafik2_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_trumpvance Andrew Caballero-Reynolds/AFP via Getty Images

    World Order in a Time of Monsters

    Minouche Shafik highlights the critical importance of reinvigorating social contracts at the national level.

The “future of work” has become an increasingly frequent and capacious subject of inquiry, reflecting the fact that “work” is not just a private concern but a fundamental component of social, political, and economic life. If it is undergoing profound changes as a result of evolving technological, demographic, and global political factors, so will much else.

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