Trade between the world’s two biggest economies has ballooned in recent decades, bringing significant benefits but also perils that have led to calls to rethink the relationship.

With the U.S. national debt already exceeding $16 trillion, President Trump’s tax reform and budget deals with Congress have added to the country’s deficits. CFR explores the origins of the national debt, the risks it presents, and the outlook for change.

U.S. lawmakers have increasingly used the debt ceiling to re-litigate congressional spending, risking default and sparking debate over whether to abolish the ceiling.

Civil aviation plays a crucial role in the U.S. transportation network and economy. Ongoing turbulence from the COVID-19 pandemic, underinvestment in infrastructure, and climate change are clouding i…

The threat of climate change and the rise of China have prompted renewed debate about the U.S. government’s role in shaping the economy.