America Should Think Twice Before Replacing Sanctions with Tariffs – with Abraham Newman

Donald Trump complains that they are undermining the supremacy of the dollar.

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Henry Farrell (and Abraham Newman), “America Should Think Twice Before Replacing Sanctions with Tariffs,” Financial Times, September 19, 2024.

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When Iraqi lawmakers voted to expel U.S. forces from the country earlier this month, the Trump administration’s response was swift and forceful: it refused to withdraw and, for good measure, threatened financial retaliation, saying it would freeze Iraq’s accounts at the U.S. Federal Reserve. The threat seems to have been effective. Although Iraqi officials still ...
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