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Bessent is a pragmatic pick, but he will not make up for the president-elect’s unpredictability

Plus the energy-inflation link

The high spirits that greeted the US president’s election triumph in November have faded

Levies on some vehicles set to reach 40%-50% when combined with threatened reciprocal tariffs

Measures designed to protect the struggling US steel industry could also help a cohort of global producers

The trade deficits will remain roughly unchanged — the globe will just end up poorer

Former president spars with judge and the state’s lawyers in trial that threatens his business empire

We must hope that the American people will not lightly abandon the enlightenment traditions of their country

Biden’s parting gift throws down the gauntlet to the incoming president on industrial policy

It’s much easier to use unilateral tariffs than pass legislation or agree preferential trade deals