Invest USA – Global Trade in Focus
In this episode of the Citi Institute podcast, host Alex Miller is joined by Candi Wolff, Citi’s Head of Global Government Affairs, and Nathan Sheets, Global Chief Economist at Citi. They discuss the rationale for the current U.S. tariff regime and share their insights on the administration's ongoing trade negotiations and the global impact.
Candi Wolff, highlights the importance of understanding the political processes and key decision-makers (such as the president) in shaping US trade policy.
Nathan Sheets, Global Chief Economist at Citi provides an overview of the different trade corridors (China, USMCA, and the rest of the world) and the varying degrees of difficulty in negotiating tariff deals within each.
Our guests reflect on the broader geopolitical and technological disruption, with AI and digital transformation accelerating amid the trade tensions.
This podcast was recorded on 28 April 2025.
The speaker's views are their own may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
Candi Wolff, Head of Global Government Affairs, Citi
Candida “Candi” P. Wolff is Citigroup’s Executive Vice President and Head of Global Government Affairs. She is responsible for the company’s government affairs globally, including U.S. Federal and State government relations and international government relations. Ms. Wolff has over 20 years of government relations experience. In addition to Citi, she served six years in the White House, including three years as the Assistant to President George W. Bush for Legislative Affairs. As the principal liaison to Congress, Ms. Wolff was responsible for formulating and advocating the president’s legislative agenda, as well as advising the president and his cabinet on legislative strategy regarding economic, domestic, and national security issues.
Ms. Wolff also worked for Vice President Cheney as his head of legislative affairs, and spent eight years working in the U.S. Senate in senior leadership roles including Deputy Staff Director for the Senate Republican Policy Committee and as tax counsel to former Senator Malcolm Wallop (R, WY). Prior to Citi, Ms. Wolff was a partner at the law firm of Hogan Lovells where she represented clients in legislative matters before the Congress and the Administration. Wolff was also a Partner at Washington Council Ernst & Young and an Associate at Akin, Gump, Strauss, Hauer & Feld.
Ms. Wolff was named by National Journal as one of the Top 25 Most Influential Women in Washington in 2012. She was also named a “Woman to Watch” by the American Banker Magazine in 2012 and 2013. Ms. Wolff serves on the Boards of the Bipartisan Policy Center Advocacy Network, Easter Seals of the Washington, Maryland and Virginia Region, and the Washington Tennis and Education Foundation. Ms. Wolff earned her B.A in mathematics and political science from Mount Holyoke College and her J.D. from the George Washington University School of Law.
Nathan Sheets, Chief Economist, Citi
Nathan Sheets, Ph.D., is Chief Economist at Citi. In this role, Nathan leads Citi’s surveillance and forecasting of the global economy and directs the analysis of the firm’s economics team. He interacts closely with Citi’s major institutional clients and internal risk takers, and publishes research on cross-cutting themes shaping the global economy and financial markets.
Most recently, Nathan was Chief Economist and a member of the senior investment team at PGIM Fixed Income. He also has served as Under Secretary of the U.S. Treasury for International Affairs, representing the U.S. government on international economic issues. Previously, he held positions with Citigroup, as Global Head of International Economics, and with the Federal Reserve Board, as Director of the Division of International Finance and FOMC Economist. In addition, Nathan was a senior advisor to the U.S. Executive Director of the International Monetary Fund and a visiting fellow at the Peterson Institute for International Economics. He joined Citi in October 2021.
Nathan has a bachelor’s degree in Economics from Brigham Young University and a Ph.D. from the Massachusetts Institute of Technology.
