{"id":13054,"date":"2025-07-30T03:05:00","date_gmt":"2025-07-29T18:05:00","guid":{"rendered":"http:\/\/www.irken.jp\/gn\/?p=13054"},"modified":"2025-07-29T15:06:01","modified_gmt":"2025-07-29T06:06:01","slug":"financial-times-july-28-2","status":"publish","type":"post","link":"https:\/\/www.irken.jp\/gn\/?p=13054","title":{"rendered":"Financial Times (July 28)"},"content":{"rendered":"<p>\u201cThe world was in striking agreement on one point: if Donald Trump went ahead with tariffs, it would strengthen the dollar and trigger stagflation.\u201d It hasn\u2019t, even though the \u201ceffective US tariff rate has already risen from 2.5 per cent to 15 per cent.\u201d This outcome  is unlikely to upturn conventional tariff wisdom. The U.S. is not \u201creally enjoying a free lunch, taking in $300bn a year in tariff revenues with none of the expected heartburn.\u201d It is much more probable that other factors, like AI\u2019s explosive growth, have hidden the impact. The most likely culprit is \u201cthe timeworn mistake of employing simple models\u2026. Complex economies are rarely shaped by just one factor, not even a shock as big as Trump\u2019s tariffs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe world was in striking agreement on one point: if Donald Trump went ahead with tariffs, it would strengthen the dollar and trigger stagflation.\u201d It hasn\u2019t, even though the \u201ceffective US tariff rate has already risen from 2.5 per cent to 15 per cent.\u201d This outcome is unlikely to upturn conventional tariff wisdom. The U.S. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[16820,2230,4729,16837,4940,546,16835,4631,3766,16836,6690,3160,5161,8],"class_list":["post-13054","post","type-post","status-publish","format-standard","hentry","category-global-news","tag-16820","tag-agreement","tag-ai","tag-complex-economies","tag-conventional-wisdom","tag-dollar","tag-free-lunch","tag-hidden","tag-impact","tag-simple-models","tag-stagflation","tag-tariffs","tag-trump","tag-u-s"],"_links":{"self":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/13054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13054"}],"version-history":[{"count":1,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/13054\/revisions"}],"predecessor-version":[{"id":13056,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/13054\/revisions\/13056"}],"wp:attachment":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}