{"id":130699,"date":"2025-07-06T11:20:18","date_gmt":"2025-07-06T10:20:18","guid":{"rendered":"https:\/\/www.themintmagazine.com\/?p=130699"},"modified":"2025-07-08T18:00:07","modified_gmt":"2025-07-08T17:00:07","slug":"trump-trade-wars","status":"publish","type":"post","link":"https:\/\/www.themintmagazine.com\/trump-trade-wars\/","title":{"rendered":"Trump trade wars"},"content":{"rendered":"<p>In a\u00a0<a title=\"White House Rose Garden\" href=\"https:\/\/en.wikipedia.org\/wiki\/White_House_Rose_Garden\">White House Rose Garden<\/a> address on April 2, 2025, Trump declared that April 2 was &#8220;Liberation Day&#8221;, describing the announcement as &#8220;one of the most important days in American history&#8221; and &#8220;our declaration of economic independence&#8221;. \u00a0Trump unveiled a two-tier tariff structure applied to all countries at 10% and &#8220;reciprocal&#8221; country-specific tariffs. \u00a0Seven days later, following a collapse in the price of all US assets. Including equities, the dollar, and bonds, Trump announced that country-specific tariffs, except on China, would be paused for 90 days, i.e., until July 6. \u00a0<\/p>\n<p>So in this issue, we are taking a broader look at what is going on, what led to this crisis and what it means for the state and future of the international political economy:<\/p>\n<ul>\n<li>Ann Pettifor\u00a0argues that <a href=\"https:\/\/www.themintmagazine.com\/lost-leader\/\">inequality is the root of the problem, combined with a lack of political leadership, posing significant financial risks to the global economy<\/a><span style=\"color: #3498db;\"><span style=\"caret-color: #3498db;\">.<\/span><\/span>\u00a0Paul Frijters centres <a href=\"https:\/\/www.themintmagazine.com\/why-war-seems-inevitable\/\">the problem on the power of oligarchs<\/a>, while Erald Kolasi warns of <a href=\"https:\/\/www.themintmagazine.com\/something-is-going-to-go-down\/\">the inevitable decline in the US, leading to conflict<\/a>.<\/li>\n<li>Richard Vague recounts <a href=\"https:\/\/www.themintmagazine.com\/tech-trumps-tariffs\/\">the history of \u00a0US dominance and then decline and proposes a return to industrial strategy<\/a>; \u00a0John Komlos proposes a <a href=\"https:\/\/www.themintmagazine.com\/double-barrelled-deficits-and-two-tiered-opportunities\/\">new mechanism to ensure balanced trade<\/a>; and Christian Felber believes that <a href=\"https:\/\/www.themintmagazine.com\/common-sense\/\">we need to put ethical outcomes at the heart of trade policy rather than see it as an end itself<\/a>.<\/li>\n<\/ul>\n<p>Much of the commentary focuses on the conflicts in the Global North, we want ensure consideration of the implications and potential of the Global South is not sidelined: Lebohang Liepollo Pheko tells <a href=\"https:\/\/www.themintmagazine.com\/alternative-route\/\">how alternatives to neoliberal consumption are being built in the Global South<\/a>; Mar\u00eda Gabriela Palacio Lude\u00f1a writes about <a href=\"https:\/\/www.themintmagazine.com\/the-price-of-compliance\/\">the implications for countries, such as Ecuador, who followed the neoliberal agenda and are now exposed to the fallout from Trump<\/a>; and Auska Ovando and Martha Hungwe explain why <a href=\"https:\/\/www.themintmagazine.com\/trade-heads-south\/\">trade between Global South nations is increasing and why the forces at play should not be solely those of the market<\/a>.<\/p>\n<p>We also feature broader economic discussion: David McWilliams talks about his book seeking <a href=\"https:\/\/www.themintmagazine.com\/lucre-ahead\/\">to explain money to a broader audience<\/a>; Laleh Khalili explores <a href=\"https:\/\/www.themintmagazine.com\/unsafe-harbours\/\">the nature of extractive capitalism, arguing that the US will remain the primary global power centre for some time<\/a>; and Michael Williams explains <a href=\"https:\/\/www.themintmagazine.com\/the-requirements-of-surplus\/\">why surplus, not scarcity, explains our economic systems<\/a>.<\/p>\n<p>Last but not least, our regular columnists, Frances Coppola examines <a href=\"https:\/\/www.themintmagazine.com\/bread-line-not-the-cashline\/\">hyperinflation in Gaza<\/a> and Professor Verity Bastion, celebrates <a href=\"https:\/\/www.themintmagazine.com\/the-harder-they-come\/\">Prinz Charlz&#8217;s entrepreneurial talents in an unstable world<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a\u00a0White House Rose Garden address on April 2, 2025, Trump declared that April 2 was &#8220;Liberation Day&#8221;, describing the announcement as &#8220;one of the most important days in American &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[3],"tags":[117,118,2823,784,800],"class_list":["post-130699","post","type-post","status-publish","format-standard","hentry","category-columns","tag-first-word","tag-henry-leveson-gower","tag-june-2025","tag-trade-war","tag-trump"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/posts\/130699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/comments?post=130699"}],"version-history":[{"count":0,"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/posts\/130699\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/media?parent=130699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/categories?post=130699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.themintmagazine.com\/wp-json\/wp\/v2\/tags?post=130699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}