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What Trump Trade Policy Has Achieved Since ‘Liberation Day’
Ten CFR experts break down what the president's trade agenda has accomplished since he placed a ninety-day pause on his expansive “Liberation Day” tariffs.
Featured Analysis From RealEcon
Exploring three key areas of international economic policy: trade and investment, development, and economic security, i.e., technology controls, supply-chain-resilience measures, and other policies to reduce risk to the economy or national security
Trade and Investment
Development
Economic Security
Trade Offs
A regular series on the choices faced by international economic policymakers
Despite recent trade deals with China and the UK, U.S. companies and consumers will face significant tariffs, compliance costs, and uncertainty without a more significant pivot from the Trump administration.
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A New Impediment to Balance of Payments Adjustment: Underwater Bonds
Taiwanese insurers are locked into holding U.S. dollar bonds that trade below par, putting pressure on Taiwan’s central bank to intervene to block currency adjustment to preserve their capital.
![Taiwan: Cumulative Valuation Loss Graph]()
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Time to End Roundtripping by Big Pharma
U.S. pharma companies should pay rather more of their corporate income tax in the U.S.—and start producing more of their best drugs in the U.S. as well.
![United States Flag and Vial]()
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The (Somewhat) Mysterious Surge in China’s Current Account Surplus
China's trade surplus is rising. China's reported current account surplus is rising even faster.
![China's surplus]()
