Council of Councils
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Winning the Race for Tomorrow’s Technologies
Leading in artificial intelligence, quantum, and biotechnology will bolster national security and allow the United States to shape global rules and standards in competition with China. CFR’s new Task Force Report explains how.
Featured Analysis From RealEcon
Exploring three key areas of international economic policy: trade and investment, development, and economic security, i.e., technology controls, supply-chain-resilience measures, and other policies to reduce risk to the economy or national security
Trade and Investment
The Consequences of Exporting Nvidia’s H200 Chips to China
Expert Brief by Michael C. Horowitz, Chris McGuire, and Zongyuan Zoe Liu
U.S. Trade Policy Sends Geopolitical Ripples Through Pacific Rim
Expert Brief by Zongyuan Zoe Liu, David Sacks, Stephen Sestanovich, Joshua Kurlantzick, and Will Freeman
Repositioning the Debate on Subsidies and Industrial Policy
Article by Inu Manak
Development
Restoring Support for Foreign Assistance Requires Sharpening its Objectives
Article by Jon Finer and William Henagan
The (Temporary) End of the U.S. Development Finance Corporation
Article by William Henagan
An Update on the Reauthorization of the U.S. Development Finance Corporation
Article by William Henagan, Author
Economic Security
Winning the Race for Tomorrow’s Technologies
Virtual Event with Jonathan E. Hillman, Justin G. Muzinich, Gina M. Raimondo, James D. Taiclet, Greg Ip and Michael Froman
Supreme Court Case on IEEPA Tariffs: Facts Should Matter
Article by James Wallar
The New Supply Chain Insecurity
with Shannon K. O'Neil via Foreign Affairs
Trade Offs
A regular series on the choices faced by international economic policymakers
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China’s Long Economic War
China’s leaders have spent years preparing for Trump’s return and view the trade war as part of a much larger contest that is likely to last for decades.
![At the port in Qingdao, China, October 2025 China Daily / Reuters]()
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Europe Is Missing Its Moment
The continent is in real danger of being sidelined by its most important ally, and its ability to defend itself and secure its future role in the world hinges on its ability to mobilize resources and act collectively.
![At the European Central Bank in Frankfurt, Germany, September 2024 Jana Rodenbusch / Reuters]()
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North American Leaders ‘Take a Deep Breath’ Ahead of USMCA Review
Government tensions have upended the economic relationships between the United States, Canada, and Mexico. Despite this, public- and private-sector North American members of the Trilateral Commission appeared committed to finding a path forward.
![Prime Minister of Canada Mark Carney and President of Mexico Claudia Sheinbaum walk to a press conference at Palacio Nacional on September 18, 2025 in Mexico City, Mexico. Manuel Velasquez/Getty Images]()
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Trade Tools for Climate Action: Agreement on Climate Change, Trade, and Sustainability
The novel Agreement on Climate Change, Trade, and Sustainability balances ambitious environmental targets with domestic economic considerations, offering a blueprint for countries looking to make their economies greener.
![General view of the National Park Tapamti in Orosi, 80 miles (128km) of San Jose May 25, 2007. REUTERS/Juan Carlos Ulate]()
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How Trump Has Made Emerging Market Assets Great Again
A flurry of White House economic and trade policies intended to put “America First” have yielded unexpected returns in developing economies around the world. It’s a timely reminder of how policy decisions can feed through to global financial markets in unexpected ways.
![A person exchanges U.S. dollars for Colombian pesos at a currency exchange house in Bogota, Colombia, on June 10. Nathalia Angarita/Reuters]()
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How Court Rulings Could Affect Trump’s Aggressive Trade Policies
After another legal setback, the next high-stakes ruling on President Donald Trump’s use of emergency powers to impose tariffs is expected to come from the Supreme Court. But the administration could use other tools to continue to impose major duties on trading partners.
![Donald Trump signs an executive order on tariffs, in the Rose Garden at the White House on April 2, 2025. Leah Millis/Reuters]()
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Trade Tools for Climate Action: Green Procurement
As the largest global purchaser, the United States has a unique opportunity to catalyze market demand for green technology through the implementation of a green procurement regime, advancing both climate mitigation goals and the competitiveness of American green technology.
![Workers guide steel beams into place at a construction site in San Francisco, California September 1, 2011. Reuters/Robert Galbraith]()
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Trade and tariffs are a central part of President Donald Trump’s international economic policy. Stay up to date with the Council on Foreign Relation’s 2026 calendar of significant trade-related events.
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Greenberg Center for Geoeconomic Studies
A new year brings new developments in trade. Four CFR experts highlight the trade policies they will be monitoring this year. -
President Trump has set his sights on Venezuelan oil, but there are many economic and political obstacles to significantly ramping up the country’s oil production.
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Trade and tariffs are a central part of President Donald Trump’s international economic policy. This calendar recaps the major trade events in 2025.
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The book argues that the United States erred in embracing globalization. But many other policy decisions contributed to America’s current economic predicament—and raising trade barriers may prove as misguided as the mistakes it claims to correct.
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The government’s effort to defend Trump’s IEEPA tariffs as regulatory rather than revenue-raising faces a skeptical Court and may fail to avert the nondelegation problems its interpretation creates.
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The goods trade deficit and most of its alleged negative effects are rooted in domestic policy, not trade. Rules of evidence may limit the Supreme Court to arguments formally presented, but the justices would do the nation an injustice if they did not consider the facts.
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The Trump administration says its trade and investment policies are aimed to help struggling Americans. However, a preliminary look at recently announced investments shows that the administration may be missing its target.
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New Delhi has doubled down on domestic reforms and international engagement in the face of Washington’s tariffs, seeking faster growth and a wider web of economic and security ties. Continued tensions could have deep implications for U.S. economic security and grand strategy in Asia.
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President Trump has declared trade deficits to be an economic “emergency.” But if they are one, his trade deals can only worsen it.
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There’s a correlation between the shrinking middle and political polarization.
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The current state of the WTO underscores the need for pragmatic trade agreements, highlights inadequacies in addressing state intervention, and affirms the need to grapple with measures taken in the name of national security.