You did it, WTO!

Which European country offers the most generous government #subsidies to buy EVs? www.euronews.com/business/202...

The WTO has named Robert Staiger as its new Chief Economist. Here is my @trade--talks.bsky.social podcast conversation in 2023 with Bob where he shared his thoughts about the WTO.

A taxi driver, unimpressed by my poor French, barked at me to "speak English". Then a barista demanded I continue in French after I switched into English. Linguistic purgatory. 🤣

It took +20 years of negotiations. It could change the future of our oceans. The WTO’s Agreement on Fisheries Subsidies comes into force today. Why it matters and how it happened: shorturl.at/EzvJx

After +20 years of negotiations, the WTO’s Agreement on Fisheries Subsidies enters into force today. This agreement represents a major step toward aligning global trade rules with environmental sustainability. Explore how this milestone was reached and what it means: shorturl.at/EzvJx

I did it. I turned the heat on.

We need your help to find meteorite that crashed into Scotland. 🔭 🧪 www.bbc.co.uk/news/videos/...

AI deployed in an effort to reduce corruption in public procurement in Albania. The Prime Minister said: AI will be "entrusted with all decisions on public tenders". www.france24.com/en/live-news...

Tube strike = 1.5 hour walk across London today. In the rain. But, as always, Londoners rise to a challenge. Saw many small acts of kindness today as everyone struggled to navigate the deluge, buses, sink holes, and rogue Lime bikes.

In 2022, China had nearly 1800 ships under construction. The US has just five. 🤯

More than 1,000 Greek farmers and agribusinesses are under investigation for the abuse of EU #subsidies europeannewsroom.com/greece-probe...

We don't talk enough about sub-national #subsidies. They often account for a majority of a nation's total subsidy amount, particularly in federal systems. www.seafoodsource.com/news/supply-...

Would love to see the full criteria for the UK's new EV subsidy scheme. Which cars qualify and why? www.bbc.co.uk/news/article...

The Fed’s future hangs in balance after Trump’s assault - on.ft.com/4lECVQ9 via @FT

Incredible gamble by Bayrou, calling a confidence vote in just a couple weeks when he has no majority in Parliament Likelihood of French govt collapse is high www.france24.com/en/live-news...

European wine is about to cost more in the US as a new trade deal adds a 15% tariff. Will EU member states step in with more subsidies to help winemakers? I dive into EU wine subsidies here: shorturl.at/PZ0Os www.dw.com/en/eu-us-dea...

Thank you @sjrickard.bsky.social The high (0.8!) positive correlation of USD and 10-year Treasury rates held unbroken since at least 2012 (I checked) and on average since at least 1982. Reversing sign is a BFD More sophisticated analyses come to the same end e.g. @helene-rey.bsky.social

Lots of great stuff here. 👇 One of my favourites: "Ever since the administration’s April 2 tariff announcements, the correlation between U.S. interest rates and the dollar has reversed, indicating that something other than day-to-day economic news is driving the dollar down."

My article The New Economic Geography is out today in @foreignaffairs.com Please read! (Ungated link, suitable for sharing) shared.outlook.inky.com/link?domain=...

Out tomorrow in @foreignaffairs.com my new article, your guide to the new global economic geography. The implications go far beyond rebalancing trade surpluses and will last far longer than any deals.

Writing about lightning-fast changes in US trade policy… for the glacial pace of academic publishing? Not easy. Thanks to everyone at World Trade Review for breaking the sound barrier and getting this special issue out in record time! Find my piece here (open access): doi.org/10.1017/S147...

Grapes of wrath: South African wineries hit by 30% US tariffs - on.ft.com/3JrYZjx

A very interesting, disturbing piece. 👇

Fishing port in southern China offers USD 5.6 million subsidy package to expand local fleet’s distant-water capabilities share.google/CrmYsMwLsaBA...

Whether 15% incorporates existing tariffs or is additional makes a big difference to the final rate. To give an illustrative example. If we assume MFN US tariff on shoes is 12%, under JP understanding the tariff would be 15% (12% incorporated into 15% rate), under US understanding it would be 27%

NEW: We're tracking tariff revenue as a % of monthly total import values US businesses pay (including shipping & insurance), by type of good & country of import, along with revenue compared to the federal budget deficit. Check out the interactive charts here:

The UK Trade and Agriculture Commission (TAC) seeks written submissions on the UK-India free trade agreement. Call for evidence closes at midday on 31 August 2025. More info here: www.gov.uk/government/c...

Great headline 👇 (and coverage of course).

Switzerland 39%? 🇨🇭

“Businesses in the Republic without a presence in the North will now peer enviously across the Border at the lower rate to be applied there. This is the first year since Ireland – both parts – joined the [EEC] in 1973 that such a differential has been in play.” www.irishtimes.com/business/202...

Absolutely. We had a choice. A big American Brexit, or the dismantling of the whole system. That the EU is choosing the latter is shameful. And very much against its own interests.

Full text of the UK-India trade agreement is available here: www.gov.uk/government/c...

The US Justice Department has made "trade and customs fraud, including tariff evasion" its second highest priority for white-collar crime. 😲

6 months of Trump on trade. I broke it down with @chadpbown.com, @meredith-crowley.bsky.social, and @chrishorseman.bsky.social. 👇 What’s working, what’s not, and what’s next.

6 months into President Trump’s second term (this Sunday), our latest podcast unpacks what he might be trying to achieve with the imposition of tariffs and what it means for the global trading system 👉 on.soundcloud.com/VSnHeqSmAiic...

EU to step up foreign #subsidy investigations. on.ft.com/4eWSoJP

European Commission proposes 30% reduction in farm subsidies. www.euractiv.com/section/agri...

JPMorgan says the cost of it's tech workers in Glasgow is closer to that in India than Texas! via @economist.com #wages

Is there method in Trump's tariff madness? The verdict from my excellent guests on the latest @thecitp.bsky.social Trade Bites podcast? "Sort of..." :-) Thanks to Meredith Crowley, @sjrickard.bsky.social and @chadpbown.com for their insights. You can listen here: soundcloud.com/uktpo-tradeb...

UK to subsidise electric vehicle purchases as sales lag targets https://on.ft.com/4lsK8U8

Word of the day is ‘swullocking’, from 19th-century East Anglian dialect: sultry, sweltering, and sudiferous (sweat-inducing).

EU to ring-fence billions of farming subsidies - on.ft.com/4nIoo8w via @FT

Berlin explores €4bn subsidies for German heavy industry - on.ft.com/4eB5Tyx via @FT

It was my pleasure to recap the dismal state of US tariffs and how they fit into the larger policy picture for @cepr.org. And the whole book is worth a read; many nice essays, albeit on depressing subjects.

It's the day we've been waiting for: the UK's Industrial Strategy is out! www.gov.uk/government/p... It includes commitments to reduce industrial electricity costs, promote trade, a £86 billion investment in R&D & a global talent taskforce (and £54 million) to attract world-leading researchers.

Happy #SummerSolstice! 10pm at 51.5° N

Norway features prominently in my book on subsidies & when I'm asked which country gets subsidies right, I say: Norway. Here’s a(nother) bold new subsidy initiative from Norway: $2.2 billion in subsidies for carbon capture and storage. on.ft.com/3G49bO0 via @FT

The US borrows from Europe's playbook by taking a "golden share" in US Steel as a condition for approving its takeover by Japan's Nippon Steel. The "golden share" gives the US veto rights over the firm's decisions but not an equity stake in the company.

Reeves confirms 10 year Infrastructure Strategy and Modern Industrial Strategy is on the way in the coming weeks.