Macro Research
Trump plans to impose 50% tariff on EU imports from next month
Trump plans to impose 50% tariff on EU imports from next month: Stephen Jen warns that the trade war is widening…
Read MoreMy thoughts on currencies, May 2025
My Thoughts on Currencies: Policy-wise in the US, 2025 has so far been a year of the ‘twin deficits’…
Read MoreWashington deserved a downgrade
Washington deserved a downgrade: Following Moody’s decision to strip the US of its final AAA sovereign rating…
Read MoreThe Ferguson Law and the US’ Fight for a Small Government
The Trump Administration has been fighting to alter the trajectories of the US’ twin deficits…
Read MoreAnother Avalanche Warning on the Asian Currencies
The Taiwan dollar (TWD) appreciated by 7.5 percent against the dollar over the first days of May, purportedly triggered…
Read MoreMade in the USA 2035
The economic rivalry between the US and China is intense partly because it is as much a technology war as a trade war.
Read MoreWSJ: Xi is ratcheting up China’s pain threshold for a long fight with Trump
In this follow-up note on the evolving US-China trade conflict, Stephen Jen provides a…
Read MoreMy thoughts on currencies
The future trajectory of the Trade War remains highly uncertain, with too many permutations for us to plan for…
Read MoreFT: Is the world losing faith in the almighty US dollar?
Amid the market’s abrupt turn away from the “American Exceptionalism” narrative, Stephen Jen delivers a sharp and timely perspective on the dollar’s path.
Read MoreThe Risks of Export Dumping by China
As tensions between Washington and Beijing escalate, Stephen Jen and Joana Freire explore a powerful second-order consequence: the redirection of Chinese
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