The Financial Page
The Truth About Donald Trump’s “Liberation Day”
The President’s one-man trade war was already hurting the economy. His expansive new tariffs will make things worse.
Don’t Believe Trump’s Promises About Protecting the Social Safety Net
The Social Security Administration is shuttering offices, and the Republicans’ own math suggests that they are planning big cuts to Medicaid and SNAP.
Even Donald Trump’s Historical Role Model Had Second Thoughts About Tariffs
President William McKinley was a steadfast protectionist—until a depression and a G.O.P. wipeout.
Will Trumpian Uncertainty Knock the Economy Into a Recession?
There is only so much policy chaos that households, businesses, and financial markets can take.
The Musk-Trump War on Federal Employees Doesn’t Add Up
DOGE operatives claim that mass layoffs are necessary to prevent the U.S. government from going bankrupt. Let’s do the math.
The White House Is Gaslighting Americans About Donald Trump’s Tariffs
The Administration insists that its aggressive trade policies won’t hurt U.S. consumers, but data from Trump’s first term suggest otherwise.
Elizabeth Warren Fights to Defend the Consumer Protection Agency She Helped Create
Elon Musk’s campaign to shutter the Consumer Financial Protection Bureau will end up hurting the very people Donald Trump promised to safeguard.
Elon Musk and Donald Trump Are Not Fixing U.S. Foreign Aid but Destroying It
The new Administration’s move to shutter U.S.A.I.D. has halted vital aid programs around the world and left thousands of development workers in a state of limbo.
Trump’s Trade War Is Only Getting Going
To the relief of Wall Street, the President agreed to pause his tariffs against Mexico and Canada, but he remains as determined as ever to upend the international trading order.
Is DeepSeek China’s Sputnik Moment?
The Chinese company’s low-cost, high-performance A.I. model has shocked Silicon Valley, and a longtime China watcher warns that the West is being leapfrogged in many other industries, too.