Economist Kenneth Rogoff says Donald Trump’s tariff push may appear to be reshaping global trade, but it likely won’t last once other countries learn how to hit back effectively. He ties US economic risks to dollar dominance, sanctions, and unsustainable debt, arguing no single currency can replace the greenback and forecasting slower US growth.
The Federal Reserve’s careful stance on tariffs is evolving into stronger signals of potential rate cuts as growth slows, hiring weakens, and public debt spirals. At the same time, political interference and mounting fiscal strain could further weaken dollar strength, fueling fears that currency weakness may last longer than traders expect.
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Since the September introduction of Trump’s 100000 H-1B hiring fee, just 70 employers have reportedly paid it, according to a US lawyer in court. Plaintiffs say the cost blocks small businesses from hiring foreign workers, while the government argues the low uptake shows it is not meant to raise revenue. Judges are now reviewing the policy’s legality.
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