Richard Baldwin/ 19 May 2025
President Trump’s 2025 tariffs mark the onset of the post-American leadership era. This column introduces The Great Trade Hack, a new CEPR Rapid Response book arguing that Trump’s trade policy, driven by a ‘Grievance Doctrine’, is emotionally coherent but economically incoherent. Despite their failure to deliver real solutions, tariffs persist as ‘policy placebos’ that deflect blame from domestic failures onto foreign villains. The book traces the bipartisan entrenchment of protectionism since 2008, examines risks of cascading protection, and outlines pragmatic pathways for sustaining the world trade system in this new era.
网页链接：
New eBook: Trump’s Great Trade Hack
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