What is a trade deal?
Since Donald Trump’s arrival in the White House, there has been talk of “trade deals.” Trade deals are needed, although the term is not clearly defined.According to conventional wisdom, a…
Philippe Waechter's blog
The American trap
As July 9 approaches, announcements and concerns about tariffs are back in the headlines. On April 2, Liberation Day, Donald Trump announced tariffs ranging from 10 to 50%, depending on…
Is economic uncertainty consistent with robust financial markets?
Since the beginning of 2025, the economic landscape has changed. This change of direction primarily reflects the economic policy pursued by the White House in two dimensions: 1- the accentuation…
Europe facing itself
The milestone has been reached. Donald Trump has indicated that he wants 50% tariffs on products from the European Union as of June 1st. This tariff, announced on April 2nd…
Already a failure of the tariff policy?
Tomorrow, May 20, Trump will celebrate his fourth month in office. It is, of course, too early to assess his economic policy. However, we can make a few observations about…
Lowering tariffs between the US and China
Chinese and Americans have partially buried the war axe on tariffs. The 145% rate on Chinese products entering the US is lowered to 30% and the 125% rate for US…
The World According to Trump – Part 2 –On the impossibility of killing two birds with one stone
The prerequisiteIndicators of distrust in Donald Trump’s economic policy are multiplying.According to the University of Michigan survey, American consumers are very worried. In April, they expect inflation to rise sharply…
The World According to Trump – Faulty Premise – Part 1
In less than a week since Donald Trump’s announcements on tariffs, the foundations of the global economy have been called into question. There is the economy of the past and…