Alan Beattie
@alanbeattiee.bsky.social
Opiner for Financial Time / associate fellow at Chatham House. Globalisation, econ, snark. RT=👍. View own. alan.beattue@ft.com.
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Reposted by Alan Beattie
I don’t know about artificial intelligence, but I’d settle for a modicum of the human variety here.
Someone asked Ackman why he didn’t think Trump would impose insane tariffs when his stated plan was “impose insane tariffs.
His answer? “My bad”
His answer? “My bad”
April 7, 2025 at 3:41 AM
I don’t know about artificial intelligence, but I’d settle for a modicum of the human variety here.
Reposted by Alan Beattie
And for those who, like me, prefer transcripts, here's the transcript: www.ft.com/content/71d9...
Transcript: Are US tariffs just the beginning? With Abraham Newman
Alan Beattie talks to Abraham Newman, professor of political science at Georgetown University
www.ft.com
April 7, 2025 at 6:25 AM
And for those who, like me, prefer transcripts, here's the transcript: www.ft.com/content/71d9...
Reposted by Alan Beattie
Do Trump's tariffs presage even more disruptive economic warfare? Wouldn't that be fun? Here I am on the FT Economics Show podcast with Abe Newman, guru of "weaponised interdependence".
(Turns out btw starting a podcast with a cold open is something I've always wanted to do without knowing it.)
(Turns out btw starting a podcast with a cold open is something I've always wanted to do without knowing it.)
Are US tariffs just the beginning? With Abraham Newman
There are other tools of economic coercion in the modern global economy
www.ft.com
April 7, 2025 at 6:05 AM
Do Trump's tariffs presage even more disruptive economic warfare? Wouldn't that be fun? Here I am on the FT Economics Show podcast with Abe Newman, guru of "weaponised interdependence".
(Turns out btw starting a podcast with a cold open is something I've always wanted to do without knowing it.)
(Turns out btw starting a podcast with a cold open is something I've always wanted to do without knowing it.)
Reposted by Alan Beattie
April 5, 2025 at 3:25 PM
Reposted by Alan Beattie
Also: last week before the tariffs were announced I interviewed WTO director-general Ngozi Okonjo-Iweala on the future of global trade for the FT's Economics Show podcast. Recording and transcript:
www.ft.com/content/6a36...
www.ft.com/content/6a36...
Can the WTO stay relevant? With Ngozi Okonjo-Iweala
With global trade under attack from Donald Trump, what role can the WTO play?
www.ft.com
February 3, 2025 at 12:52 PM
Also: last week before the tariffs were announced I interviewed WTO director-general Ngozi Okonjo-Iweala on the future of global trade for the FT's Economics Show podcast. Recording and transcript:
www.ft.com/content/6a36...
www.ft.com/content/6a36...
Reposted by Alan Beattie
My Trade Secrets today. The tariffs are crazy and illogical, and there's not much in their way. (Not the courts, not Congress, certainly not the Democrats. Maybe markets and the economy.)
But the real nightmare is the seizure of the state by the likes of Elon Musk.
on.ft.com/3EnZZ60
But the real nightmare is the seizure of the state by the likes of Elon Musk.
on.ft.com/3EnZZ60
Trump’s cataclysmic damage is going way beyond tariffs
[FREE TO READ] The functioning of US government is facing a systemic crisis
on.ft.com
February 3, 2025 at 12:49 PM
My Trade Secrets today. The tariffs are crazy and illogical, and there's not much in their way. (Not the courts, not Congress, certainly not the Democrats. Maybe markets and the economy.)
But the real nightmare is the seizure of the state by the likes of Elon Musk.
on.ft.com/3EnZZ60
But the real nightmare is the seizure of the state by the likes of Elon Musk.
on.ft.com/3EnZZ60
Reposted by Alan Beattie
My Trade Secrets today. Suppose Trump follows through with his large-scale tariffs next time and on a broad range of countries.
With China also encouraging exports and restricting imports, exporters elsewhere could be caught between two battling mercantilist giants.
on.ft.com/4hLEIkX
With China also encouraging exports and restricting imports, exporters elsewhere could be caught between two battling mercantilist giants.
on.ft.com/4hLEIkX
The world’s exporters search for new customers if Trump cuts off trade
[FREE TO READ] With China also reducing imports, demand from the voracious American consumer will be hard to replace
on.ft.com
February 6, 2025 at 11:56 AM
My Trade Secrets today. Suppose Trump follows through with his large-scale tariffs next time and on a broad range of countries.
With China also encouraging exports and restricting imports, exporters elsewhere could be caught between two battling mercantilist giants.
on.ft.com/4hLEIkX
With China also encouraging exports and restricting imports, exporters elsewhere could be caught between two battling mercantilist giants.
on.ft.com/4hLEIkX
Reposted by Alan Beattie
Nothing that repeatedly intoning the word “deregulation” while burning product standards rulebooks in a giant wicker man won’t fix.
And no surprise really…
UK Recession Fears Mount With Data Set to Show GDP Shrinking www.bloomberg.com/news/article...
UK Recession Fears Mount With Data Set to Show GDP Shrinking www.bloomberg.com/news/article...
UK Recession Fears Mount With Data Set to Show Economy Shrinking
The UK economy may have shrunk in the fourth quarter, putting Britain back on the brink of recession and piling more pressure on Chancellor of the Exchequer Rachel Reeves and her promise to turbo-char...
www.bloomberg.com
February 12, 2025 at 8:08 AM
Nothing that repeatedly intoning the word “deregulation” while burning product standards rulebooks in a giant wicker man won’t fix.
Reposted by Alan Beattie
My Trade Secrets today. If you’re against Trump’s tariffs you’d better hope that some combination of political opposition, smart diplomacy and an economic or market meltdown is going to stop him.
Because neither domestic nor international courts are likely to stand in his way.
on.ft.com/4hZ2KJv
Because neither domestic nor international courts are likely to stand in his way.
on.ft.com/4hZ2KJv
Trump fought the trade law, and Trump won
[FREE TO READ] Neither international nor domestic courts on their own will stop the US president’s destructive tariffs
on.ft.com
February 13, 2025 at 9:15 AM
My Trade Secrets today. If you’re against Trump’s tariffs you’d better hope that some combination of political opposition, smart diplomacy and an economic or market meltdown is going to stop him.
Because neither domestic nor international courts are likely to stand in his way.
on.ft.com/4hZ2KJv
Because neither domestic nor international courts are likely to stand in his way.
on.ft.com/4hZ2KJv
Reposted by Alan Beattie
Awwwwww.
Strongly recommend this episode of #TheEconomicsShow with @alanbeattie.bsky.social and @douglasirwin.bsky.social - a true trade feast!
podcasts.apple.com/us/podcast/t...
podcasts.apple.com/us/podcast/t...
Trump and the history of tariffs. With Doug Irwin
Podcast Episode · The Economics Show · 01/20/2025 · 43m
podcasts.apple.com
January 26, 2025 at 7:20 PM
Awwwwww.
Reposted by Alan Beattie
But I was specifically assured that the one thing Trump cared about was the stock market.
Oh wait, you were actually SERIOUS about those tariffs?
January 31, 2025 at 7:25 PM
But I was specifically assured that the one thing Trump cared about was the stock market.
Reposted by Alan Beattie
Welcome to Donald Trump's trade policy. Nobody knows anything.
2/n
2/n
January 7, 2025 at 5:28 PM
Welcome to Donald Trump's trade policy. Nobody knows anything.
2/n
2/n
Reposted by Alan Beattie
AMERICANS! Bracing yourselves for arguments over politics with relatives today? I recommend reading my column saying no one knows anything about Trumpland economics anyway, and then the conversation can move on to football or whatever. You’ll be glad you did.
My Trade Secrets today.
Nobody. Knows. Anything.
This week's narrative twists in econ/trade Trumpland (Wall St-friendly Scott Bessent nominated to Treasury but then huge Canada/Mexico tariffs) show the unpredictability involved. (The tariffs might not work anyway.) 🧵follows 1/n
on.ft.com/3AZIZBG
Nobody. Knows. Anything.
This week's narrative twists in econ/trade Trumpland (Wall St-friendly Scott Bessent nominated to Treasury but then huge Canada/Mexico tariffs) show the unpredictability involved. (The tariffs might not work anyway.) 🧵follows 1/n
on.ft.com/3AZIZBG
The contradictions of Trumponomics over tariffs lie exposed
[FREE TO READ] This week is a sobering reminder of the uncertainties of US policy to come
on.ft.com
November 28, 2024 at 3:04 PM
AMERICANS! Bracing yourselves for arguments over politics with relatives today? I recommend reading my column saying no one knows anything about Trumpland economics anyway, and then the conversation can move on to football or whatever. You’ll be glad you did.
Reposted by Alan Beattie
Reposted by Alan Beattie
My Trade Secrets today. People (including Trump himself) often say his tariffs hark back to the 19th century or the Great Depression. But the great Doug Irwin, whom I interview on the Economics Show podcast today (link in next post) convinced me he's more like Nixon. 1/n
www.ft.com/content/007a...
www.ft.com/content/007a...
Richard Nixon’s third term on trade starts today
Weirdly, it will be a relief if Trump’s tariffs are no higher than Tricky Dick’s
www.ft.com
January 20, 2025 at 12:49 PM
My Trade Secrets today. People (including Trump himself) often say his tariffs hark back to the 19th century or the Great Depression. But the great Doug Irwin, whom I interview on the Economics Show podcast today (link in next post) convinced me he's more like Nixon. 1/n
www.ft.com/content/007a...
www.ft.com/content/007a...
Reposted by Alan Beattie
My Trade Secrets today. Two of Trump's big policy pledges - tax cuts and tariffs - run directly counter to a third, weakening the dollar to improve competitiveness.
Managing currencies is fiendishly hard (the Plaza Accord didn't do that much tbh) and Trump will fail if he tries.
on.ft.com/3WhsHvu
Managing currencies is fiendishly hard (the Plaza Accord didn't do that much tbh) and Trump will fail if he tries.
on.ft.com/3WhsHvu
The alarming contradictions awaiting Donald Trump’s dollar
[FREE TO READ] Big tax cuts and tariff hikes will prevent any new Plaza Accord to manage currencies
on.ft.com
January 16, 2025 at 12:50 PM
My Trade Secrets today. Two of Trump's big policy pledges - tax cuts and tariffs - run directly counter to a third, weakening the dollar to improve competitiveness.
Managing currencies is fiendishly hard (the Plaza Accord didn't do that much tbh) and Trump will fail if he tries.
on.ft.com/3WhsHvu
Managing currencies is fiendishly hard (the Plaza Accord didn't do that much tbh) and Trump will fail if he tries.
on.ft.com/3WhsHvu
Reposted by Alan Beattie
FUTURE ARCHAEOLOGIST: “Civilisation is believed to have collapsed in the mid-21st century after societies attempted to move to an economy based entirely on hot takes.”
January 9, 2025 at 7:24 PM
FUTURE ARCHAEOLOGIST: “Civilisation is believed to have collapsed in the mid-21st century after societies attempted to move to an economy based entirely on hot takes.”
Reposted by Alan Beattie
My Trade Secrets today.
Joe Biden tried hard, despite competing priorities, to create an "economic security state" akin to the post-WW2 national security state. It's a bit ramshackle and uneven, but at least it's there. Donald Trump is, let's say, unlikely to improve it.
on.ft.com/4gJ9smL
Joe Biden tried hard, despite competing priorities, to create an "economic security state" akin to the post-WW2 national security state. It's a bit ramshackle and uneven, but at least it's there. Donald Trump is, let's say, unlikely to improve it.
on.ft.com/4gJ9smL
Trump has limited powers to fight an economic cold war
[FREE TO READ] The new president is not the man to shore up the US ‘economic security state’
on.ft.com
January 9, 2025 at 11:23 AM
My Trade Secrets today.
Joe Biden tried hard, despite competing priorities, to create an "economic security state" akin to the post-WW2 national security state. It's a bit ramshackle and uneven, but at least it's there. Donald Trump is, let's say, unlikely to improve it.
on.ft.com/4gJ9smL
Joe Biden tried hard, despite competing priorities, to create an "economic security state" akin to the post-WW2 national security state. It's a bit ramshackle and uneven, but at least it's there. Donald Trump is, let's say, unlikely to improve it.
on.ft.com/4gJ9smL
Reposted by Alan Beattie
My Trade Secrets today. Donald Trump’s obsession with using tariffs to coerce trading partners is worse than a crime - it’s a mistake. It’s unlikely to work and it will cut the US off further from the world trading system and make it weaker.
on.ft.com/4fZPIKX
on.ft.com/4fZPIKX
Tariff Man’s superpowers are weaker than he thinks
[FREE TO READ] Donald Trump’s obsession with import taxes belies their limited effects
on.ft.com
December 5, 2024 at 9:08 AM
My Trade Secrets today. Donald Trump’s obsession with using tariffs to coerce trading partners is worse than a crime - it’s a mistake. It’s unlikely to work and it will cut the US off further from the world trading system and make it weaker.
on.ft.com/4fZPIKX
on.ft.com/4fZPIKX
Reposted by Alan Beattie
My Trade Secrets today. The EU-Mercosur mega-deal is back on.
A big-up to Mercosur and especially Lula for getting it this far. For the EU the deal is important but for the Mercosur bloc it might be existential.
Now it's all about whether France will block it. Que la partie commence!
A big-up to Mercosur and especially Lula for getting it this far. For the EU the deal is important but for the Mercosur bloc it might be existential.
Now it's all about whether France will block it. Que la partie commence!
The endangered Mercosaurus roars back to life
[FREE TO READ] Europe and South America revive a dormant deal
on.ft.com
December 9, 2024 at 1:32 PM
My Trade Secrets today. The EU-Mercosur mega-deal is back on.
A big-up to Mercosur and especially Lula for getting it this far. For the EU the deal is important but for the Mercosur bloc it might be existential.
Now it's all about whether France will block it. Que la partie commence!
A big-up to Mercosur and especially Lula for getting it this far. For the EU the deal is important but for the Mercosur bloc it might be existential.
Now it's all about whether France will block it. Que la partie commence!
Reposted by Alan Beattie
My Trade Secrets today. We’re in a new era of state intervention with governments subsidising and regulating like crazy. But trade continues healthily. Why? Because except the US, governments aren’t usually daft enough to do it with tariffs and border controls.
on.ft.com/49GaMUz
on.ft.com/49GaMUz
The state intervention that’s not destroying trade
[FREE TO READ] Governments are experimenting with industrial policy but tariffs are staying low
on.ft.com
December 12, 2024 at 8:10 AM
My Trade Secrets today. We’re in a new era of state intervention with governments subsidising and regulating like crazy. But trade continues healthily. Why? Because except the US, governments aren’t usually daft enough to do it with tariffs and border controls.
on.ft.com/49GaMUz
on.ft.com/49GaMUz
Reposted by Alan Beattie
My Last Trade Secrets column of 2024. Not gold, frankincense and myrrh but olive oil, gallium and container ships.
The Christmas miracle of the magi of the global economy keeping the gifts of globalisation coming.
God bless us, every one.
on.ft.com/3ZDC9tQ
The Christmas miracle of the magi of the global economy keeping the gifts of globalisation coming.
God bless us, every one.
on.ft.com/3ZDC9tQ
December 19, 2024 at 9:15 AM
My Last Trade Secrets column of 2024. Not gold, frankincense and myrrh but olive oil, gallium and container ships.
The Christmas miracle of the magi of the global economy keeping the gifts of globalisation coming.
God bless us, every one.
on.ft.com/3ZDC9tQ
The Christmas miracle of the magi of the global economy keeping the gifts of globalisation coming.
God bless us, every one.
on.ft.com/3ZDC9tQ
Reposted by Alan Beattie
“Here’s how we used to fund federal spending when there was hardly any federal spending.”
It's simply amazing that prominent businesspeople and investors could miscomprehend economic history this badly.
January 1, 2025 at 10:51 PM
“Here’s how we used to fund federal spending when there was hardly any federal spending.”
Reposted by Alan Beattie
EU updates a trade deal with Mexico on Friday, relaunches talks with Malaysia this morning and files a WTO case against China this afternoon.
Some nice optics of standing up for rules-based trade, no matter what effect they have in the end.
ec.europa.eu/commission/p...
Some nice optics of standing up for rules-based trade, no matter what effect they have in the end.
ec.europa.eu/commission/p...
EU challenges China at WTO on royalties for EU high-tech sector
The European Commission has requested consultations at the World Trade Organization (WTO) aiming to remove unfair and illegal trade practices by China in the sphere of intellectual property.
ec.europa.eu
January 20, 2025 at 2:54 PM
EU updates a trade deal with Mexico on Friday, relaunches talks with Malaysia this morning and files a WTO case against China this afternoon.
Some nice optics of standing up for rules-based trade, no matter what effect they have in the end.
ec.europa.eu/commission/p...
Some nice optics of standing up for rules-based trade, no matter what effect they have in the end.
ec.europa.eu/commission/p...