A 'Mar-a-Lago Accord' would risk repeat of Plaza Accord mistake

Trump's tariff war revives 1980s-style economic thinking

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2025-01-03 Mar-a-Lago

People stand near Donald Trump's residence at Mar-a-Lago in Palm Beach, Florida, on Jan. 3, 2025.  © Reuters

Masaaki Shirakawa is a distinguished guest professor at Aoyama Gakuin University in Tokyo and a former governor of the Bank of Japan.

The global economy has been shaken since U.S. President Donald Trump's "Liberation Day" announcement of sweeping tariffs on April 2, and no one can predict the outcome of the escalating trade war.

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