Peterson Institute for International Economics

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

We used to take trade for granted, but today we are in an era of trade conflict and can no longer avoid the fight. President Donald Trump’s tariffs have jolted markets, fueled inflation, and alienated US allies. But turning back the clock to the old rules and customs is not an option. Chad P. Bown and Soumaya Keynes discuss their new book on May 20.

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

Europe's trade war with China (Episode 214)

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

May 10, 2026

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

NurPhoto/Jakub Porzycki

Photo Credit: NurPhoto/Jakub Porzycki

RealTime Economics

Eurobonds: Despite objections, they are more needed than ever

Olivier Blanchard (PIIE) and Ángel Ubide (Citadel)

May 7, 2026

U.S. Federal Reserve Chair Jerome Powell departs following his final press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026.

REUTERS/Kevin Lamarque

Photo Credit: REUTERS/Kevin Lamarque

Op-Eds

He Was Good at Steering the Fed, but He Was a Genius at Ignoring Trump’s Threats

Jason Furman (PIIE)

May 14, 2026

via New York Times

What's New

A truck carries raw Lithium at Sandawana Mines in Mberengwa, Zimbabwe, November 19, 2025.

Strengthening Project Vault: The US plan to stockpile critical minerals

Cullen S. Hendrix (PIIE)

May 2026

A technician works on robotic arms in a manufacturing plant in China. Photo taken on March 12, 2026.

The adoption of AI by industrial sectors

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

May 21, 2026

Using trade to undergird peace

Alan Wm. Wolff (PIIE)

May 20, 2026

How China’s trade is holding back developing countries (Episode 215)

Chad P. Bown (PIIE) and Arvind Subramanian (PIIE)

May 19, 2026

PIIE Charts

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

Karen Dynan (PIIE)

April 9, 2026

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

Gregory Auclair (PIIE) and Adnan Mazarei (PIIE)

January 29, 2026

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

Labor markets and structural transformation in times of change: AI and demographic shifts

November 17, 9:00 AM EST to November 18, 2026, 5:00 PM EST

Nov

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