Domestic Affairs
Introduction In a landmark achievement that highlights both its economic power and global influence, California has officially surpassed Japan to become the world’s fourth-largest economy. With a nominal gross domestic product (GDP) of $4.1 trillion in 2024, California now trails only the United States, China, and Germany. This
Global Affairs
Introduction The global economic landscape has been rocked by a renewed escalation in the U.S.-China trade war, with President Donald Trump’s administration imposing a 145% tariff on Chinese imports earlier this month. China has responded in kind, raising its own tariffs on U.S. goods to 125%
Domestic Affairs
Introduction The U.S. labor market continues to show resilience in the face of mounting economic headwinds, as evidenced by the latest unemployment claims data. For the week ending April 19, 2025, initial jobless claims rose by 6,000 to a seasonally adjusted 222,000. Despite this modest increase, the
Domestic Affairs
Introduction The U.S. housing market, long a bellwether for the broader economy, experienced a significant setback in March 2025. Sales of existing homes plummeted 5.9% from the previous month, marking the sharpest monthly decline in more than two years and bringing activity to its slowest pace since 2009.
Domestic Affairs
Introduction In a dramatic turn for global markets, the technology sector has experienced a powerful rally following signals from the Trump administration that U.S.-China trade tensions may soon ease. President Donald Trump’s remarks that current tariffs on Chinese imports are “too high” and will “come down substantially”
Domestic Affairs
Introduction The International Monetary Fund (IMF) has sharply downgraded its U.S. growth forecast for 2025, warning that President Trump’s sweeping tariffs and the resulting global trade tensions are acting as a major drag on the American and world economies. In its April 2025 World Economic Outlook, the IMF
Global Affairs
Executive Summary As of April 2025, U.S.-Japan trade relations are at their most precarious point in decades. President Donald Trump’s administration has imposed sweeping tariffs on Japanese exports—most notably a 25% levy on automobiles and a 24% “reciprocal” tariff on all Japanese goods, with a 10%
Domestic Affairs
Domestic Affairs
Domestic Affairs
Domestic Affairs
Global Affairs