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War and Tariffs are a Double Shock to the World Economy
Project Syndicate: June 24,2025
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Stephen Roach
1
Imagining Engagement
Look before leaping. Prior to making the case for US-China engagement, it is critical to understand what that might entail.
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Stephen Roach
13
How my views on Hong Kong's future have evolved
Financial Times opinion: June 12, 2025
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Stephen Roach
Not a Real Deal
An early take on the impact of the London non-deal between the US and China
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Stephen Roach
Adjudicating Economic Emergencies
While the courts have called Trump's bluff on the emergency justification for tariffs, they have laid out a non-emergency path that gets to the same…
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Stephen Roach
1

May 2025

Off again, On again
Clarifying my view after multiple recent court rulings on Trump tariff policy
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Stephen Roach
Update to Subscribers
Dear readers,
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Stephen Roach
8
Twin Deficits: Economics Meets the Law
A stunning Court ruling does not negate the worrisome interplay between America's budget and trade deficits.
 • 
Stephen Roach
Trump's Unworkable Trade Formula
Project Syndicate, May 26, 2025
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Stephen Roach
2
The Compounding Errors of Trump Trade Policy
The combination of a China penalty and a global "minimal" tariff rate of 10% is inherently unstable.
 • 
Stephen Roach
5
The Fallacy of Strategic Uncertainty
There is no order to chaos in Trump 2.0, especially when it comes to the tariff war.
 • 
Stephen Roach
4
A Post-Truth Deal with China
Process is progress, but without strategy, progress will stall.
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Stephen Roach
2
© 2025 Stephen Roach
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