Donald Trump complains that they are undermining the supremacy of the dollar.
Henry Farrell (and Abraham Newman), “America Should Think Twice Before Replacing Sanctions with Tariffs,” Financial Times, September 19, 2024.
America Should Think Twice Before Replacing Sanctions with Tariffs – with Abraham Newman
Other Writing:
Essay
Tornado Cash Is Not Free Speech. It’s a Golem – with Bruce Schneier
In August, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the cryptocurrency platform Tornado Cash, a virtual currency “mixer” designed to make it harder to trace cryptocurrency transactions—and a worldwide favorite money-laundering platform. Americans are now forbidden from using it. According to the U.S. government, Tornado Cash was sanctioned because it allegedly laundered ...
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Essay
This Is How Trump Will Smash the Machine of U.S. Economic Power
Economic security officials worked across administrations, gradually developing grand ambitions of a global order founded on financial sanctions, export controls and development of crucial technologies. Each new administration built up the economic weapons it inherited from the last and encouraged its successors to keep building the structures of American economic power. We are about to ...
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