Lee Clifford

Executive Editor

Now it’s becoming increasingly clear that the president is determined to do exactly what they feared but didn’t really believe could happen: reverse decades of global free trade and build another “wall,” not the barrier along the Mexican border, but a protectionist barricade around America that repels even our closest allies and trading partners.

In a deep dive for Fortune, Shawn Tully examines the roots of Trump’s fixation on tariffs and exposes how they threaten to derail the U.S. economy. As noted economist Steve Hanke of Johns Hopkins University puts it, “You can’t win a trade war. Starting one, as Trump is doing, only ensures that both sides lose.”

Economists are trying to quantify what Trump’s trade wars could do to the economy. There’s little precedent

FORTUNE 500

Fortune 500 Power Moves: Which executives gained and lost power this week

See which Fortune 500 companies are making changes to their C-suite ranks.

LEADERSHIP

Kohl’s new CEO has a massive cleanup job ahead of him as shares plunge to their lowest point since 1995

Ashley Buchanan is a talented retail executive with a daunting mandate.

POLITICS

Half a dozen members of Trump’s cabinet hold Bitcoin assets, disclosures reveal, with a combined total worth millions

“Headwinds have turned into tailwinds,” for the crypto world because of the new administration, digital asset platform Abra’s CEO said.

Fired NIH workers lost their ‘dream job.’ Due to a Kafkaesque appeals process and slim private-sector offerings, their futures may be in jeopardy, too

“We are risking an entire generation of medical professionals, researchers, and scientists,” a former NIH director said.

If you think the current outlook is bad, just wait until the White House can’t find anyone to buy its debt, warns Ray Dalio

He warned the White House may have to exert further political pressure on foreign governments in order to deal with a looming debt crisis.

TECH

In a striking change of tone, Tesla mega bull Dan Ives warns Elon Musk that patience is ‘wearing thin’

One of the automaker’s most bullish analysts is urging the billionaire to return to his duties at Tesla.

EUROPE

Meet the defense giants that will rearm Europe as the EU eyes a massive military buildup

As Europe prepares for a world without American military aid, the EU plans to invest $867 billion on defense.

Beyond Concorde: One man’s quest to bring back supersonic travel becomes reality

Blake Scholl’s vision to restore supersonic travel and make it both commercially viable and luxurious has been regarded by many as pie in the sky.

WELL

TikTok introduces tighter controls for kids and teens—but experts still have a warning for parents

Here’s why the features are a “step in the right direction” but not the end of the story.

Melinda French Gates’ top career advice: Embrace uncertainty

Leadership Next: Qualtrics CEO on the ‘why’ behind leadership and how AI is changing the game for experience management

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