The truce did not last long. On May 23rd President Donald Trump threatened to impose a tariff of 50% on imports from the European Union, more than double the size of his earlier threat of 20%. “Our discussions with them are going nowhere,” he said. The bloc is “very difficult to deal with”. Without progress, […]
In the early 20th century, before America had an income tax, tariffs paid many of the government’s bills. President Donald Trump wants to revive that approach. He has repeatedly floated the idea of an “External Revenue Service”, under which Uncle Sam would scrap income taxes and instead rely on border levies, with foreigners, at least […]
One of the best things about living in Europe is America. Faced with a moribund domestic stockmarket, European investors can redirect their savings into the s&p 500. Residents enjoy the protection of America’s security umbrella without having to foot the bill. At times of crisis the continent’s central banks rely on swap lines from the […]
“Serena Williams, Tom Brady, Stephen Curry.” When it comes to making sure the world’s biggest bank is a lean operation, Jamie Dimon takes athletic inspiration. “Look how they train, what they do to be that good,” says the boss of JPMorgan Chase. “Very often, senior leadership teams, they lose that. Companies become very inward-looking, dominated […]
The president prompted a similar divide last time round Source link
David Webb was an exemplary shareholder Source link
When the economics department at the Massachusetts Institute of Technology issues a statement, it is often to celebrate a Nobel Prize. In the past decade, six of its professors have won the award—as many as the next two universities combined. But on May 16th it issued a different sort of press release: one disavowing research […]
In the early 20th century, before America introduced an income tax, tariffs paid many of the government’s bills. President Donald Trump wants to revive that approach. He has repeatedly floated the idea of an “External Revenue Service”, under which Uncle Sam would scrap income taxes and instead rely on levies at the border, with foreigners, […]
It wants people to move to cities. And the countryside Source link
As Scott Bessent, America’s treasury secretary, negotiated with China in Switzerland late into the evening on May 11th, trade negotiators from the rest of the world found themselves at a loose end. Many had arrived in Washington for talks, desperately seeking trade deals, only to find America’s negotiators abroad and their meetings delayed or cancelled. […]