Donald Trump is the face of these cuts, but the cruelty of his administration is not the only story. After leaping upward in the 2000s, global giving for health grew very slowly through the 2010s. The culture of philanthropy has changed somewhat, too, with the age of the Giving Pledge — in which hundreds of the world’s richest people promised …
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How India Is Trying to Squeeze Pakistan Far From the Battlefield
Even as India was gearing up to use its military to strike at Pakistan this week, calling it revenge for a terrorist strike in Kashmir last month, the government was pursuing other forms of power projection as well: bloodless and more refined, and mostly aimed at Pakistan’s economic vulnerability. On Friday, May 9, the executive board of the International Monetary …
Read More »Can President Trump Turn Back the Economic Clock?
Amsterdam prospered as a banking center even as it declined as a center of manufacturing and commerce. By the late 18th century, Europe no longer wanted Dutch fabrics or Dutch fish, and it no longer needed Dutch ships. In 1783, a group of Dutch merchants sent a gift of salted herring to George Washington, requesting his endorsement and, presumably, seeking …
Read More »U.S. and China to Hold First Trade Talks Since Trump’s Tariffs
Top officials from the Trump administration will meet with their Chinese counterparts in Switzerland this week, the first formal meeting about trade between the United States and China since President Trump raised tariffs on Chinese imports to triple-digit levels last month. Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, plan to meet with Chinese officials …
Read More »Oil Prices Are Falling. Here’s Where That Could Spell Trouble.
Oil producing countries are bracing for a bumpy ride this year, with a precipitous drop in prices to the lowest levels in four years seen as the initial, alarming sign of looming turmoil. A price drop benefits any country seeking to cut its fuel bill. But in oil producing nations, lower prices can feed economic troubles, and sometimes political unrest, …
Read More »Howard Lutnick, Trump’s ‘Buoyant’ Trade Warrior, Flexes His Power Over Global Business
Since Howard Lutnick was tapped to serve as President Trump’s commerce secretary, executives from some of the world’s largest companies have been trying to win him over. Leaders of Nvidia, Facebook, Taiwan Semiconductor Manufacturing Company and Alphabet have visited his newly purchased $25 million property in Washington — a 16,250-square-foot mansion that Mr. Lutnick, a billionaire, recently quipped would be …
Read More »In Trade War Clash With Trump, China Refuses to Take the Bait
If the trade war between China and the United States is a game of high-stakes brinkmanship, it is currently a game that Beijing is not willing to play. Faced with growing claims by President Trump and administration officials that the two countries are engaged in talks and that a deal could be reached in a matter of weeks, China’s Foreign …
Read More »Trump Team Races to Form Trade Deals After Tariffs Sow Global Chaos
For a president who advertises himself as a paramount deal maker, the next 11 weeks will be a pivotal test, as his advisers race to accomplish what no other administration has done before and reach dozens of individual trade deals with other governments. President Trump has promised big gains for American trade, and officials from Japan, South Korea, India and …
Read More »Trump Officials Say Tariff Talks Are Underway but ‘Drastic’ Change Is Needed
President Trump’s top trade official defended the administration’s aggressive tariff moves on Tuesday, arguing before a Senate committee that the U.S. economy is facing “a moment of drastic, overdue change” after decades of factories moving overseas and hurting the American working class. The remarks by Jamieson Greer, the United States trade representative, came as the Trump administration faced blowback from …
Read More »Trump’s Tariffs Will Wound Free Trade, but the Blow May Not Be Fatal
President Trump’s self-proclaimed “liberation day,” in which he announced across-the-board tariffs on the United States’ trading partners, carries an echo of another moment when an advanced Western economy threw up walls around itself. Like Brexit, Britain’s fateful vote nearly nine years ago to leave the European Union, Mr. Trump’s tariffs struck a hammer blow at the established order. He is …
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