Trade Wars: The end of globalisation?

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Rising tariffs, deepening tensions between the US and China, and a growing wave of protectionism—are we witnessing the unravelling of globalisation as we know it?

In this episode of IFS Zooms In, Paul is joined by Professor Meredith Crowley (University of Cambridge) to explore the shifting landscape of global trade. Together, they unpack why trade barriers are rising, how trade wars are reshaping international relationships, and what this means for the UK and the global economy.

This episode builds on Meredith’s 2025 IFS Annual Lecture. You can watch the full talk here.

Zooming in: discussion questions

These are a set of questions designed for A Level economics students to discuss, written by teacher Will Haines.

1. Explain the impact of tariffs on the US economy. Refer to a relevant diagram in your answer.

2. Will the world economy remain globalised or are we entering a new era of deglobalisation?

3. How should the UK government respond to US tariffs?