October 31st 2026 The Americans changing politics for the better A YEAR AND a half ago Donald Trump was riding high and bent on reversing globalisation. As Americans fretted about the cost of living, the self-proclaimed “Tariff Man” declared “chronic trade deficits” a “national emergency” and slapped hefty tariffs on imports. The protectionist mood spread.
In August India’s prime minister, Narendra Modi, urged his fellow citizens to embrace _swadeshi_(self-sufficiency), insisting that not “a single foreign thing” should enter their homes. The European Union moved to double tariffs on steel imports. Mexico approved steep levies on goods from China and other Asian economies.
An index compiled by economists from the World Trade Organisation (WTO) and the IMF shows that restrictive trade measures rose by over 60% in 2025 alone. William Nordhaus, favourite economist of the right and the left The Nobel-prizewinner was fascinated by what happens when markets fail What happens when the supply of new tech catches up with demand? To enhance your experience and ensure our website runs smoothly, we use cookies and similar technologies.
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