A trade war is an economic conflict where nations impose tariffs or other trade barriers on each other in retaliation for similar actions

Trade between the US and China has increased in recent decades

After China joined the World Trade Organization in 2001, the trade partnership between the US and China bloomed. But it's not without pros and cons, including lower prices for US consumers and higher profits for US corporations alongside the loss of American jobs due to import competition and multinational companies moving overseas.

An economic evaluation of US tariffs

Most economists agree that the implementation of large-scale tariffs on foreign goods would hurt both the American and global economies. This video from The Wall Street Journal explains the rationale for tariffs as a tool for domestic job creation, but explains why they may hurt the overall economy.

Trump's 2025 tariffs represent a significant break from the rules-based trade order

The Trump administration imposed broad tariffs on other countries outside WTO rules in 2025, claiming that those countries had long violated trade agreements and that the US was simply leveling the playing field.

How do tariffs work?

This brief animated video from Time walks through a simple example of a tariff on a single good, illustrating how this would affect the market for the good—both domestically and abroad—and who would eventually bear the cost of the tariff.

Behind the scenes on tariff politics

Economist Gene Grossman joined the Trade Talks Podcast to discuss why tariffs really happen. The episode digs into how voters, politicians, lobbyists, and even campaign cash can affect when protectionist trade policies are put forward. Produced in 2019, the podcast also discusses how populist trade policies and identity politics accounted for Donald Trump’s victory in the 2016 Presidential election.

The Smoot-Hawley Tariff Act is among the most famous pieces of economic legislation in the US

In a desperate move to save the economy from the deepening global depression, the US placed tariffs on thousands of goods from abroad. This approach backfired, as many of America’s trade partners took retaliatory measures.

Pros and cons of tariffs

While some mainstream economists are skeptical about tariffs, President Donald Trump is bullish on them. The pros and cons of tariffs include their ability to help governments raise money and the potential for retaliatory tariffs.

Trade and tariffs in the Roman world

Trade between nations and empires date back thousands of years, including the use of tariffs to raise government revenue.

The General Agreement on Tariffs and Trade and its successor, the WTO, was formed to reduce trade barriers between nations

Data from the WTO shows that this effort was successful, resulting in a quadrupling of global trade in goods and a reduction of tariff rates of member states by 44%. This indicates that the post-World War II international efforts to create a more liberal trade environment have been successful.

The US war on drugs, explained

The United States has been fighting a global war on drugs for decades. By making drugs more expensive and less available, the US has sought to reduce drug use and inhibit the international drug trade. However, increasing prison populations,...

Japan’s imperial expansion in Asia set the stage for war with the US

Between 1931 and 1941, Japan seized Manchuria, launched a full-scale war in China and occupied French Indochina, moves that intensified its demand for strategic resources and triggered escalating US-led embargoes—particularly the 1941 oil cutoff—which sharply raised the risk of war between the two countries.

Trade dress is a form of trademark that applies to the physical appearance of a product

Distinct visual characteristics of products, like the shape of a Coca-Cola bottle or the interior layout of an Apple store, can be protected. These characteristics are protected to help consumers quickly identify certain brands.

The history of the Chinese civil war from 1945-49

Today's tensions were formed after the Chinese Communist Party defeated the Kuomintang shortly after World War II. Here's a thorough explainer on what happened.

Congress has formally declared war 11 times across five conflicts, the last in 1942

The five declared wars were the War of 1812, the Mexican-American War, the Spanish-American War, World War I, and World War II. Every major American military conflict since Korea, Vietnam, Iraq, and Afghanistan has been fought without a formal declaration.

Commodity traders are the most powerful people you've never heard of

Just beneath the surface of the global economy is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity—they're called commodity traders. Their power partly stems from the fact that commodities are essentially the building blocks of the economy at large.

How China could blockade Taiwan

China has its eyes on Taiwan, and could move to isolate the island in order to force it into concessions. Through military maneuvers, building its navy, and other actions, it feels like China is testing the waters for a future blockade if peaceful attempts to unify the two countries fail. This New York Times interactive article details how it might happen.

Canada is the largest foreign buyer of California wine

Tariffs have impacted the wine industry in Canada significantly, given that California winemakers are responsible of 80% of the country's wine supply.

Governments have historically used counterfeiting for economic warfare

Inserting fake currency into an economy can help destabilize it. During the American Revolution, for instance, the British distributed counterfeit “Continental Dollars” in an effort to devalue the currency being used in the US at the time with the goal of undermining America’s growing financial credibility. The Nazis also ran an extensive counterfeiting scheme during WWII.

Opposition to British taxes, regulation of trade was key to American independence

The economic situation in the colonies formed the backbone of the central events of the Revolution. British war debts caused it to lay the first direct taxes on colonists, cease their westward expansion claims, and adhere to stringent trade regulations, leading to backlash and eventual separation.

Cold War rivalries fueled fierce competition in international sports

From Olympic medal counts to hockey showdowns, the US and USSR used sports to showcase ideological superiority. Athletic victories were framed as proof that each system—capitalist or communist—produced stronger, more disciplined citizens.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

A centrally planned economy is one where the government—not markets—sets production

This Investopedia article explains how command economies work, which countries have used them, and why even market-based nations like the US sometimes adopt tools such as rationing or price controls during wartime or national emergencies.

Iran-Iraq war drained over $1T from the combined economies of Iran and Iraq

Across eight years (1980-88), Iran and Iraq each lost about $500 B in GDP, infrastructure destruction, military expenses, disrupted oil exports, and mounting debt—totaling over $1 T in economic damage.

A 'debt trap' refers to the need for loans or credit to cover the expenses incurred from other debt

Debt traps can be caused by unforeseen expenses or inadequate savings and can be a brutal cycle to break. At the end of 2025, total household debt in the US reached $18.8T, according to data from the Federal Reserve of New York.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

The term 'wedding tax' is often used to refer to the extra money that many wedding industry suppliers charge

According to wedding vendors, the "wedding tax"—the additional money charged for goods and services specifically intended for a wedding rather than another type of event—stems from the increased amount of time and attention that someone like a florist or makeup artist spends on a wedding versus any other type of event. Unlike other events, weddings are often planned a year or more in advance and require more detailed planning and hours of communication.

Bear raiding is a manipulative tactic to bring a stock price down—and part of why short selling can be controversial

Bear raids occur when short sellers use manipulative tactics—like spreading false rumors or coordinating trades—to artificially drive down a stock's price and profit from short positions. Although bear raids are an illegal form of market manipulation, they can spook investors, prompting large selloffs of shares and causing a company's value to plummet. As a result, investors may be hesitant to invest in the company in the future, creating a feedback loop of stock downturn.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The Russia-Ukraine conflict is the largest ground war in Europe since World War II in casualties, forces mobilized, and displacement of civilians.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Fireworks make a loud booming sound after exploding due to air expanding faster than the speed of sound.

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

Sunflowers have long been a symbol of nuclear disarmament because they can extract large amounts of radioactive cesium from soil.

Poison ivy's characteristic rash is caused by an allergic response to an oily compound in the plant called urushiol.

El Niño, Spanish for 'the boy,' was named after Jesus Christ because the phenomenon resembled the weather changes observed around Christmastime.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

Existentialist writer Jean-Paul Sartre coined the famous phrase 'Hell is—other people' in his play 'No Exit'

NBA superstar Victor Wembanyama spent the 2025 summer training with monks in central China to enhance his body and mind.