Peterson Institute for International Economics

Euro banknotes are seen in this photo illustration, taken on January 26, 2026.

Photo Credit: NurPhoto/Jakub Porzycki

Eurobonds: Despite objections, they are more needed than ever

The rupture in the global economic order caused by US actions makes it more imperative for Europe to accelerate its strategic autonomy, including establishment of upgraded Eurobonds, Olivier Blanchard and Ángel Ubide argue.

Chinese national flags flutter near shipping containers at the Yangshan Port outside Shanghai, China. Photo taken on February 7, 2025.

REUTERS/Go Nakamura

Photo Credit: REUTERS/Go Nakamura

Working Papers

China's mercantilist squeeze on developing countries

Shoumitro Chatterjee (Johns Hopkins University) and Arvind Subramanian (PIIE)

May 11, 2026

Trade Talks Episode 0: Introduction to the Weekly Podcast

Trade Talks

Europe's trade war with China (Episode 214)

Chad P. Bown (PIIE) and Finbarr Bermingham (South China Morning Post)

May 10, 2026

Brazil’s President attends a press conference with European Commission President, at the Itamaraty Palace in Rio de Janeiro, Brazil. Photo taken on January 16, 2026.

REUTERS/Ricardo Moraes

Photo Credit: REUTERS/Ricardo Moraes

RealTime Economics

Does the EU-Mercosur deal help or hurt Brazil’s AI ambitions?

Monica de Bolle (PIIE)

May 6, 2026

How to Win a Trade War

Event

How to Win a Trade War: Book launch and discussion with Bown and Keynes

Chad P. Bown (PIIE), Soumaya Keynes (Financial Times), Greg Ip (Wall Street Journal) and Inu Manak (Council on Foreign Relations)

May 20, 2026

What's New

Brazilian President Luiz Inacio Lula da Silva speaks to reporters at the Brazilian Embassy, following his White House meeting with US President Donald Trump, in Washington, DC. Photo taken on May 7, 2026.

The Lula-Trump meh meeting: Three hours, lunch, and a working group

Monica de Bolle (PIIE)

May 12, 2026

A cow stands in front of a barn painted with the US flag in Iowa. The "American heartland" as it’s known, for its dominant role in agriculture, leading the US in soybean, corn, and pork production.

Haunted by tariffs and trade wars: A positive trade policy for US agriculture

Warren Maruyama (Hogan Lovells), Joseph W. Glauber (International Food Policy Research Institute), Alan Wm. Wolff (PIIE) and Nicki Ghazarian-Foye (Former Hogan Lovells)

May 2026

Fentanyl pills are displayed in New York City. Photo taken on June 24, 2024.

Fentanyl, China, and Trump's 2025 tariffs

Marcus Noland (PIIE)

May 11, 2026

Chinese national flags flutter near shipping containers at the Yangshan Port outside Shanghai, China. Photo taken on February 7, 2025.

China's mercantilist squeeze on developing countries

Shoumitro Chatterjee (Johns Hopkins University) and Arvind Subramanian (PIIE)

May 2026

PIIE Charts

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

Gary Clyde Hufbauer (PIIE) and Ye Zhang (PIIE)

May 11, 2026

War, uncertainty slow 2026 growth across advanced and emerging economies

War, uncertainty slow 2026 growth across advanced and emerging economies

Karen Dynan (PIIE)

April 9, 2026

The Trump administration wants foreign investment pledges to boost several sectors that Biden targeted (featured)

The Trump administration wants foreign investment pledges to boost several sectors that Biden targeted

Gregory Auclair (PIIE) and Adnan Mazarei (PIIE)

February 11, 2026

Some countries will struggle to fulfill their investment pledges to President Trump

Some countries will struggle to fulfill their investment pledges to President Trump

Gregory Auclair (PIIE) and Adnan Mazarei (PIIE)

January 29, 2026

PIIE Insider LIVE

Understanding China's economy and the housing bust, with Tianlei Huang

May 19, 2026, 11:00 AM to 11:30 AM EDT

Anjali V. Bhatt (PIIE) and Tianlei Huang (PIIE)

May

19

How to Win a Trade War: Book launch and discussion with Bown and Keynes

May 20, 2026, 12:30 PM to 1:30 PM EDT

Chad P. Bown (PIIE), Soumaya Keynes (Financial Times), Greg Ip (Wall Street Journal) and Inu Manak (Council on Foreign Relations)

May

20

What Now, Europe?

What does it mean to be "European" today?

May 28, 2026, 9:00 AM to 9:45 AM EDT

Nicolas Véron (PIIE) and Juliet Johnson (McGill University)

May

28

Featured Topics

US Federal Reserve

The exterior of the Marriner S. Eccles Federal Reserve Board building is seen in Washington, DC. Photo taken on June 14, 2022.

Amid wartime disruptions, most emerging-market central banks will follow the Fed

Alfredo Mendoza-Fernández (University of California, Berkeley), Maurice Obstfeld (PIIE) and Serra Pelin (PIIE)

April 23, 2026

Patrons exit a supermarket in Florida where consumer prices have soared due to inflation.

The COVID era inflation surge: Causes, consequences, and policy lessons

Karen Dynan (PIIE) and David Wilcox (PIIE)

January 2026

US Federal Reserve Chair Jerome Powell at the Federal Reserve in Washington, DC.

Trump’s Attack on the Fed Is Already Backfiring

Jason Furman (PIIE)

January 12, 2026

via New York Times

Tariffs

A cow stands in front of a barn painted with the US flag in Iowa. The "American heartland" as it’s known, for its dominant role in agriculture, leading the US in soybean, corn, and pork production.

Haunted by tariffs and trade wars: A positive trade policy for US agriculture

Warren Maruyama (Hogan Lovells), Joseph W. Glauber (International Food Policy Research Institute), Alan Wm. Wolff (PIIE) and Nicki Ghazarian-Foye (Former Hogan Lovells)

May 2026

Fentanyl pills are displayed in New York City. Photo taken on June 24, 2024.

Fentanyl, China, and Trump's 2025 tariffs

Marcus Noland (PIIE)

May 11, 2026

Trucks carry shipping containers to be unloaded and stacked in the Port of Seattle in Seattle, Washington. Photo taken on August 11, 2025.

Why do Trump's tariffs have such staying power?

Alan Wm. Wolff (PIIE)

May 7, 2026

Inflation

Customer paying with cash in Washington, DC.

Prices Are High. Here's One Reason Not to Panic.

Jason Furman (PIIE)

April 10, 2026

via New York Times

Cargo ships in the Gulf, near the Strait of Hormuz, amid the US-Israeli conflict with Iran. Photo taken March 11, 2026.

Global economy to slow in 2026, and outlook clouded by war, other uncertainties

Karen Dynan (PIIE)

April 9, 2026

A customer shops at a supermarket in New York as consumer prices surged as inflation hits 40-year high.

The worst inflation outbreak in 40 years: Distilling lessons from the COVID era

Karen Dynan (PIIE) and David Wilcox (PIIE), editors

February 2026

China

Fentanyl pills are displayed in New York City. Photo taken on June 24, 2024.

Fentanyl, China, and Trump's 2025 tariffs

Marcus Noland (PIIE)

May 11, 2026

Chinese national flags flutter near shipping containers at the Yangshan Port outside Shanghai, China. Photo taken on February 7, 2025.

China's mercantilist squeeze on developing countries

Shoumitro Chatterjee (Johns Hopkins University) and Arvind Subramanian (PIIE)

May 2026

Chinese and US flags are displayed.

US-China cooperative interdependence: Opportunities and obstacles

Marcus Noland (PIIE), editor

April 2026

In The News

Trump wants China to buy a lot more US energy. Analysts doubt he’ll get his way

via Straits Times

feat. Chad P. Bown

Arvind Subramanian

Modi’s extraordinary comeback

via Financial Times

feat. Arvind Subramanian

Maurice Obstfeld

Iran war sparks permanent swap line request from U.A.E.

via CNBC

feat. Maurice Obstfeld

Fuel, munitions and food: the mounting toll of Trump’s Iran war

via Financial Times

feat. Joseph E. Gagnon

Resources

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

PIIE Chart

Title
Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

US-China Trade War Tariffs: An Up-to-Date Chart

PIIE Chart

Title
US-China Trade War Tariffs: An Up-to-Date Chart

Trump's trade war timeline 2.0: An up-to-date guide (featured)

RealTime Economics

Title
Trump's trade war timeline 2.0: An up-to-date guide

Pixel-Shot/Adobe Stock/stock.adobe.com

Microsite

Title
The future of the USMCA

What Is Globalization?

Microsite

Title
What Is Globalization?

Globalization has helped raise incomes almost everywhere since the 1980s

PIIE Chart

Title
Globalization has helped raise incomes almost everywhere since the 1980s