August 29, 2017 — Americans have under-estimated the nuclear threat from North Korea and misunderstood what policies would reduce it. At the same time they have over-estimated the importance of bilateral trade deficits with China and misunderstood what policies would reduce them. Now these two different issues intersect.
(August 27, 2017) — Donald Trump has threatened new trade barriers against China while simultaneously depending on Beijing’s help to rein in North Korea’s alarming nuclear weapons program. These two aspects of US policy toward China are at odds. Continue reading
(March 25, 2017) US Treasury Secretary Steven Mnuchin already finds himself hemmed in on all sides.
Domestic constraints come from the promises that he and President Trump have made and the laws of arithmetic. How, for example, is he ever going to be able to reconcile the specific tax proposals that candidate Trump campaigned on with the promise of the “Mnuchin rule” that taxes won’t be cut for the rich? Continue reading