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Eliminating Optional Practical Training (OPT) would cause permanent losses to US innovation, productivity, economic growth, & job opportunities for both less-educated native workers & more educated native workers. From April: piie.com/blogs/realtime…

President of Peterson Institute argued at #EUBEF25 that the way forward for Europe to be itself and play its own game. By giving the Tommaso Padoa Schioppa lecture, Adam Posen said "You're not going to win by playing China or the US game." 👉Watch the debate live: europa.eu/!HJmkQJ

On average... US tariffs on China are 51.1% China tariffs on the US are 32.6% US tariffs on rest of the world are 11.7% China tariffs on rest of the world are 6.5%

Today in @Economics Daily Newsletter... Newsletter here: bloomberg.com/news/newslette… Working Paper here: piie.com/publications/w…

"With the so-called 'Liberation Day' tariffs, he took us to just catastrophic levels," Marcus Noland says. "And now with these cuts, he's brought us back down to roughly where they were in 1940." npr.org/2025/05/22/nx-…

.Olivier Blanchard gives his thoughts on 40 years of evolution of mainstream macroeconomics: piie.com/publications/w…

The first Trump admin found cooperation with Beijing on fentanyl yielded benefits. Chinese leaders in May 2019 began to bar fentanyl exports. The embargo increased street prices for fentanyl for 3-5 months, resulting in ~1k fewer fentanyl overdose deaths.piie.com/blogs/realtime…

A recent Supreme Court decision allows the Trump admin to cancel temporary protections for up to 350,000 Venezuelans. Michael Clemens finds ~21% of those who lost their status work in the leisure & hospitality sector. Another 16% work in construction. washingtonpost.com/politics/2025/…

I gave (remotely) the Tommaso Padoa-Schioppa Address at the Brussels Economic Forum yesterday. My message: Europe should not play China's or the US' game to secure its economic future. Europe can and should succeed by being its best self - peaceful not conflictual; cooperative

The EU & South Korea must look elsewhere to diversify trade. The CPTPP—Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, UK, & Vietnam—offers opportunity; accounting for $16 trillion of trade, ~15% of global trade. piie.com/blogs/realtime…

New research shows cooperation between the first Trump administration & Beijing in 2019 resulted in roughly 1,000 fewer fentanyl overdose deaths than would have occurred otherwise. Read the research: piie.com/blogs/realtime… Register for the May 28 event: piie.com/events/2025/us…

"Markets seem to believe that things are back to normal, but they're not," Marcus Noland says. "The tariffs now are much higher than when Trump took office." npr.org/2025/05/22/nx-…

The expectation that sanctions would change regimes, "bring back unicorns & do many other things" was unrealistic from the start, Elina Ribakova says. “What sanctions can do, they can make some things more costly" for Russia's military industrial complex. theworld.org/stories/2025/0…

The new IMF-Argentina season promises plenty of drama—market volatility, political uncertainty, &, for the first time, a president obsessed with fiscal consolidation, downsizing the state, & deregulating the economy to reestablish stability & growth.piie.com/blogs/realtime…

If the 12 CPTPP countries, 27 EU countries, & South Korea join forces, they will account for over 30% of global GDP & can reach a critical mass to advance global trade while aligning their interests, proving in a stormy world, you need friends & allies. piie.com/blogs/realtime…

People used to say Russia was a gas station or oil rig, Elina Ribakova says. But now it's producing tanks, & "the only thing that’s showing signs of life is the military industrial complex, & we are expecting the Russian economy to continue to decelerate."theworld.org/stories/2025/0…

The EU & South Korea should join the CPTPP, former European commissioner for trade Cecilia Malmström & former South Korean trade minister Yeo Han-koo write. piie.com/blogs/realtime…

New research shows cooperation between the first Trump administration & Beijing in 2019 resulted in roughly 1,000 fewer fentanyl overdose deaths than would have occurred otherwise. Read the research: piie.com/blogs/realtime… Register for the May 28 event: piie.com/events/2025/us…

The new IMF-Argentina season promises plenty of drama—market volatility, political uncertainty, &, for the first time, a president obsessed with fiscal consolidation, downsizing the state, & deregulating the economy to reestablish stability & growth.piie.com/blogs/realtime…

New research shows cooperation between the first Trump administration & Beijing in 2019 resulted in roughly 1,000 fewer fentanyl overdose deaths than would have occurred otherwise. Read the research: piie.com/blogs/realtime… Register for the May 28 event: piie.com/events/2025/us…