Peterson Institute for International Economics

A closeup of Japan's Yen banknote is shown in this photo illustration.

Photo Credit: REUTERS/Kim Kyung-Hoon

In trying to prop up the yen, the US wants to have its cake and eat it too

Maurice Obstfeld (PIIE)

The US Treasury's intervention to prop up the Japanese yen last month will accomplish little while merely postponing difficult policy choices. The Treasury action reflects a misguided assumption that the impacts of monetary, fiscal, and trade policies can be resisted through foreign exchange operations.

The Chinese flag and currency are displayed in this photo illustration.

Oriental Image via Reuters Connect

Photo Credit: Oriental Image via Reuters Connect

Working Papers

China's economic security growth model and implications for the US-China security dilemma

Yeling Tan (PIIE)

August 20, 2026

Students play the trumpet during lessons.

DPA/Thomas Frey

Photo Credit: DPA/Thomas Frey

RealTime Economics

Weapons of brass destruction? Trump's tariffs target musical instruments as a national security threat

Cullen S. Hendrix (PIIE)

August 17, 2026

A Chinese cargo ship loaded with foreign trade containers is en route from Shandong Province, China. July 2026.

CFOTO/Sipa USA

Photo Credit: CFOTO/Sipa USA

Policy Briefs

Made with China: Global supply chains and the limits of US decoupling

Mary E. Lovely (PIIE) and Christine Y. Wan (PIIE)

August 4, 2026

University students walk in front of the Peter J. Shields Library on the campus of the University of California, Davis. April 2025.

ZUMA Press Wire/Ruaridh Stewart

Photo Credit: ZUMA Press Wire/Ruaridh Stewart

RealTime Economics

A new US rule to restrict student visas will hurt the US economy

Michael A. Clemens (PIIE)

July 27, 2026

What's New

The Chinese flag and currency are displayed in this photo illustration.

China's economic security growth model and implications for the US-China security dilemma

Yeling Tan (PIIE)

August 2026

Prime Minister Mark Carney and Brazilian President Luiz Inacio Lula da Silva greet each other at the G7 Summit. June 2025.

Brazil and Canada need a partnership built for a harsher world

Monica de Bolle (PIIE), Robert Muggah (Igarapé Institute) and Philip Yang (URBEM)

August 17, 2026

via Hill Times

Students play the trumpet during lessons.

Weapons of brass destruction? Trump's tariffs target musical instruments as a national security threat

Cullen S. Hendrix (PIIE)

August 17, 2026

A close-up of a judge's gavel is shown in this photo illustration.

Why Trump will lose (again) on the new challenge to his tariffs

Alan Wm. Wolff (PIIE) and Warren Maruyama*

August 12, 2026

PIIE Charts

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

Gary Clyde Hufbauer (PIIE) and Ye Zhang (PIIE)

August 14, 2026

Trump wants to make Greenland rich, but Denmark outperforms the US economically

Trump wants to make Greenland rich, but Denmark outperforms the US economically

Jacob Funk Kirkegaard (PIIE)

August 7, 2026

Years of US tariffs on China have largely failed to reduce dependence on Chinese suppliers

Years of US tariffs on China have largely failed to reduce dependence on Chinese suppliers

Mary E. Lovely (PIIE) and Christine Y. Wan (PIIE)

August 4, 2026

China's private sector keeps expanding in 2026, while more tech manufacturers climb into the top ranks

China's private sector keeps expanding in 2026, while more tech manufacturers climb into the top ranks

Tianlei Huang (PIIE) and Nicolas Véron (PIIE)

July 30, 2026

Labor markets and structural transformation in times of change: AI and demographic shifts

November 17, 9:00 AM EST to November 18, 2026, 5:00 PM EST

Nov

17

Featured Topics

US Federal Reserve

A detail of a US one hundred dollar bill is displayed in this picture illustration. Picture taken December 2023.

Taking geopolitically motivated US swap lines too far would harm the dollar and Fed independence

Adnan Mazarei (PIIE) and Maurice Obstfeld (PIIE)

June 2026

The exterior of the Marriner S. Eccles Federal Reserve Board building is seen in Washington, DC. Photo taken on June 14, 2022.

Amid wartime disruptions, most emerging-market central banks will follow the Fed

Alfredo Mendoza-Fernández (University of California, Berkeley), Maurice Obstfeld (PIIE) and Serra Pelin (PIIE)

April 23, 2026

Patrons exit a supermarket in Florida where consumer prices have soared due to inflation.

The COVID era inflation surge: Causes, consequences, and policy lessons

Karen Dynan (PIIE) and David Wilcox (PIIE)

January 2026

Tariffs

Students play the trumpet during lessons.

Weapons of brass destruction? Trump's tariffs target musical instruments as a national security threat

Cullen S. Hendrix (PIIE)

August 17, 2026

A close-up of a judge's gavel is shown in this photo illustration.

Why Trump will lose (again) on the new challenge to his tariffs

Alan Wm. Wolff (PIIE) and Warren Maruyama*

August 12, 2026

China's national flag flutters at a business district in Beijing, China.

How Trump's next tariffs could drive companies back to China

Chad P. Bown (PIIE)

August 10, 2026

Inflation

A view of Buenos Aires in Argentina at sunset. April 2026.

Argentina: The challenge and the opportunity

Maurice Obstfeld (PIIE)

July 2026

Customer paying with cash in Washington, DC.

Prices Are High. Here's One Reason Not to Panic.

Jason Furman (PIIE)

April 10, 2026

via New York Times

Cargo ships in the Gulf, near the Strait of Hormuz, amid the US-Israeli conflict with Iran. Photo taken March 11, 2026.

Global economy to slow in 2026, and outlook clouded by war, other uncertainties

Karen Dynan (PIIE)

April 9, 2026

China

The Chinese flag and currency are displayed in this photo illustration.

China's economic security growth model and implications for the US-China security dilemma

Yeling Tan (PIIE)

August 2026

China's national flag flutters at a business district in Beijing, China.

How Trump's next tariffs could drive companies back to China

Chad P. Bown (PIIE)

August 10, 2026

Fewer people in China are investing in homes after property values crashed.

China's property bust is spilling across its borders

Tianlei Huang (PIIE)

August 7, 2026

In The News

Why Trump Is Hitting Canada With 50% Tariffs

via CNBC

feat. Chad P. Bown

Inu Manak

Is Trump’s “America First Trade Policy” working for Americans?

via USA TODAY

feat. Inu Manak

Kimberly Clausing

Hockey warns tariffs could cost Trump at midterms

via Australian Financial Review

feat. Kimberly Clausing

Elina Ribakova

Russia’s economy has defied the skeptics. Cracks are getting harder to hide

via CNBC

feat. Elina Ribakova

Resources

Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

PIIE Chart

Title
Trump's tariff revenue tracker: How much is the US collecting? Which imports are hit?

US-China Trade War Tariffs: An Up-to-Date Chart

PIIE Chart

Title
US-China Trade War Tariffs: An Up-to-Date Chart

Trump's trade war timeline 2.0: An up-to-date guide (featured)

RealTime Economics

Title
Trump's trade war timeline 2.0: An up-to-date guide

Pixel-Shot/Adobe Stock/stock.adobe.com

Microsite

Title
The future of the USMCA

What Is Globalization?

Microsite

Title
What Is Globalization?

Globalization has helped raise incomes almost everywhere since the 1980s

PIIE Chart

Title
Globalization has helped raise incomes almost everywhere since the 1980s