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Economic Revitalization Minister Ryosei Akazawa heads to the United States for negotiations from Tokyo's Haneda airport on April 16, 2025.

Kyodo via Reuters Connect

Two “Guinea pigs” come to Washington

As much of the world scrambles to figure out how to avoid Donald Trump’s expansive “reciprocal tariffs,” two big players are in Washington this week to try their hands at negotiating with the self-styled Deal Artist™ himself.

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US President Donald Trump alongside Federal Reserve Chairman Jerome Powell, back when the latter was the nominee for his current position, in Washington, D.C., USA, on November 2, 2017.

REUTERS/Carlos Barria

Could the Fed’s independent streak be over?

The United States’ judicial branch is set to reexamine an old decision that could have huge new consequences for the credibility and stability of the world’s largest economy.

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UK Prime Minister Keir Starmer meets with US President Donald Trump alongside US Vice President JD Vance and UK Foreign Secretary David Lammy in the Oval Office at the White House on February 27, 2025, in Washington, D.C., USA.

Carl Court/Pool via REUTERS

Vance ignites hope of much-coveted US-UK trade deal

The US trade deal that London has been chasing for years is closer to reality now, after US Vice President JD Vance told UnHerd on Monday that there is a “good chance” that an agreement is possible.

UK Business and Trade Minister Sarah Jones alsosaid the negotiations are in a “good position,” but refused to divulge any timeline.

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US President Donald Trump attends a Cabinet meeting at the White House in Washington, D.C., on April 10, 2025.

REUTERS/Nathan Howard

China strikes back at the US with massive tariffs of its own

Wednesday’s tariff respite is firmly in the rearview mirror, as China announced on Friday it was raising its duty on US imports to an astronomical 125%, taking effect Saturday. The announcement came less than 24 hours after the White House clarified that the new levy on Chinese imports would be 145%.

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Map of the US-Canada border.

Jess Frampton

The Captain Canuck effect: How a new nationalism is helping Canada

The United States and Canada have long prided themselves on sharing the world’s longest undefended border, a frontier routinely crossed by millions of people every year for work, visits with friends, shopping, or vacationing.

But that special relationship is now being tested by Donald Trump’s tariffs and his unprecedented threats to annex Canada by “economic force.”
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Line graphs comparing inflation to wages in the US and Canada.

Ari Winkleman

Graphic Truth: Canada is winning the real wage war

Real wages (nominal wages minus inflation) in the United States have been stagnating for decades, a consequence of policy changes, automation, and lower geographical mobility. Even when real US wages were starting to rise in the wake of the pandemic, high inflation rates quickly wiped out those gains.
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A general view outside Exchange Square in Hong Kong's financial district. Asian stock markets have plummeted amid growing fears of a global trade war, as Donald Trump described his tariffs as ''medicine'' and showed no indication of backing down.

ZUMA Press Wire via Reuters Connect

Don’t call it a trade war

In the latest twist of the United States’ trade war with China and the world, US President Donald Trump declared Monday that he would impose an additional 50% levy on Chinese imports on April 9 if Beijing refuses to drop its retaliatory tariff. The Middle Kingdom announced a 34% duty on US imports last week, matching the White House’s new excise on Chinese products.

The US follows through. Treasury Secretary Scott Bessent said the tariffs revealed on “Liberation Day” last Wednesday would be a ceiling on other countries, “as long as you don't retaliate.” China’s response forced Trump’s hand and now puts the two superpowers firmly in a trade war — one that is unlikely to benefit either country economically. The 100% tariff that Trump proposed last year is closer to becoming a reality.

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Trump and Khamenei staring at eachother across an Iranian flag.

Jess Frampton

Will Trump’s Iran strategy actually prevent war?

The United States is ramping up its “maximum pressure” campaign against Iran.

In a letter sent to Iran’s Supreme Leader Ali Khamenei in early March, President Donald Trump gave Tehran an ultimatum: reach a new nuclear deal with the US within two months or face direct military action – “bombing the likes of which they have never seen before,” as he told NBC News’ Kristen Welker on Sunday.

The letter proposed mediation by the United Arab Emirates (whose emissaries delivered the missive in question) and expressed Trump’s preference for a diplomatic solution. “I would rather have a peace deal than the other option, but the other option will solve the problem,” the president said.

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