Economics
Mar 26, 2026
Anne O. Krueger
US President Donald Trump’s tariffs and the uncertainty surrounding them have sent shockwaves through the global economy but have failed to achieve any of their stated objectives. Restoring an open, multilateral trading system will not be easy, but eliminating his arbitrary measures will be a necessary first step.
WASHINGTON, DC – It is hard to overstate how profoundly US President Donald Trump has reshaped the international landscape over the past 14 months. Since World War II, American foreign policy has largely followed an internationalist approach. Institutions like the International Monetary Fund, World Bank, and the World Trade Organization – all founded and led by the United States – helped maintain the multilateral order, while economic relations among most countries operated under the principle of nondiscrimination.
