a column by David Jacks and Dennis Novy for VOX: CEPR’s Policy Portal
Against the backdrop of new tariffs imposed by the Trump administration and retaliation from targeted countries, notably China, the trade wars of the 1930s have received renewed attention.
This column argues that they mainly served to intensify a pre-existing trend towards the formation of trade blocs. The trade wars of the present day may therefore serve a similar purpose as those in the 1930s, that is, the intensification of China- and US-centric trade blocs.
Continue reading
Showing posts with label trade_wars. Show all posts
Showing posts with label trade_wars. Show all posts
Friday, 2 August 2019
Wednesday, 10 July 2019
Supply chain linkages and financial markets: Evaluating the costs of the US-China trade war
a column by Yi Huang, Chen Lin, Sibo Liu, Heiwai Tang for VOX: CEPR’s Policy Portal
Recent studies have found that US tariffs on China have led to a significant welfare loss and significant increases in consumer prices in the US.
This column, taken from a recent Vox eBook, studies firms’ equity market responses to the various tariff announcements by the US and Chinese governments in 2018 and 2019. The responses demonstrate that the structure of US–China trade is much more complex than the simplistic view of global trade that prompted the trade war, and that the winners and losers in the war depend on firms’ positioning in, and exposure to, the global value chains shared by the two countries.
Continue reading
Recent studies have found that US tariffs on China have led to a significant welfare loss and significant increases in consumer prices in the US.
This column, taken from a recent Vox eBook, studies firms’ equity market responses to the various tariff announcements by the US and Chinese governments in 2018 and 2019. The responses demonstrate that the structure of US–China trade is much more complex than the simplistic view of global trade that prompted the trade war, and that the winners and losers in the war depend on firms’ positioning in, and exposure to, the global value chains shared by the two countries.
Continue reading
Monday, 9 April 2018
A trade war will increase average tariffs by 32 percentage points
a column by Alessandro Nicita, Marcelo Olarreaga and Peri da Silva For Vox: CEPR’s Policy Portal
There are growing signs that a trade war is possible, and that the multilateral trading system may not be able to prevent it.
This column asks what would happen with tariffs around the world if countries were to move from cooperative tariff setting within the WTO to non-cooperative tariff setting outside the WTO. It argues that that the resulting trade war with countries exploiting their market power would lead to a 32-percentage point increase in the tariff protection faced by the average world exporter.
Continue reading
Nobody wins in a trade war. I really hope that it can be avoided.
There are growing signs that a trade war is possible, and that the multilateral trading system may not be able to prevent it.
This column asks what would happen with tariffs around the world if countries were to move from cooperative tariff setting within the WTO to non-cooperative tariff setting outside the WTO. It argues that that the resulting trade war with countries exploiting their market power would lead to a 32-percentage point increase in the tariff protection faced by the average world exporter.
Continue reading
Nobody wins in a trade war. I really hope that it can be avoided.
Subscribe to:
Posts (Atom)
