Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn writes that financial markets rallied following the U.S. election, on hopes that President-Elect Donald J. Trump’s fiscal stimulus and deregulation initiatives would spur corporate profits and growth. Perhaps so, but a strong case could be made for the opposite: that Trump’s economic agenda will prove disruptive to trade and growth, face growing headwinds in Congress, and exert a contractionary impact on the U.S. economy.

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the United States should empower the International Monetary Fund and Group of Twenty to better address currency manipulation concerns.

Bottom Line: The October U.S. budget agreement provides a short respite, with a new spending showdown likely in January. Although the debt limit extension may last until the summer, the costs of our …