scholarly journals The Impact of the 2018 Tariffs on Prices and Welfare

2019 ◽  
Vol 33 (4) ◽  
pp. 187-210 ◽  
Author(s):  
Mary Amiti ◽  
Stephen J. Redding ◽  
David E. Weinstein
Keyword(s):  
United States ◽  
The United States ◽  
Real Income ◽  
Trade Policies ◽  
Foreign Countries ◽  
Domestic Prices ◽  
Trade War ◽  
Pass Through ◽  
The Impact ◽  
Trump Administration

We examine conventional approaches to evaluating the economic impact of protectionist trade policies. We illustrate these conventional approaches by applying them to the tariffs introduced by the Trump administration during 2018. In the wake of this increase in trade protection, the United States experienced substantial increases in the prices of intermediates and final goods, dramatic changes to its supply-chain network, reductions in availability of imported varieties, and the complete pass-through of the tariffs into domestic prices of imported goods. Therefore, the full incidence of the tariffs has fallen on domestic consumers and importers so far, and our estimates imply a reduction in aggregate US real income of $1.4 billion per month by the end of 2018. We see similar patterns for foreign countries that have retaliated with their own tariffs against the United States, which suggests that the trade war has also reduced the real income of these other countries.

scholarly journals Policy Uncertainty, Trade, and Welfare: Theory and Evidence for China and the United States

2017 ◽  
Vol 107 (9) ◽  
pp. 2731-2783 ◽  
Author(s):  
Kyle Handley ◽  
Nuno Limão
Keyword(s):  
United States ◽  
Economic Activity ◽  
The United States ◽  
Real Income ◽  
Policy Uncertainty ◽  
The Us ◽  
Trade Prices ◽  
Trade War ◽  
The Impact ◽  
Welfare Theory

We examine the impact of policy uncertainty on trade, prices, and real income through firm entry investments in general equilibrium. We estimate and quantify the impact of trade policy on China's export boom to the United States following its 2001 WTO accession. We find the accession reduced the US threat of a trade war, which can account for over one-third of that export growth in the period 2000– 2005. Reduced policy uncertainty lowered US prices and increased its consumers' income by the equivalent of a 13-percentage-point permanent tariff decrease. These findings provide evidence of large effects of policy uncertainty on economic activity and the importance of agreements for reducing it. (JEL D72, F13, F14, O19, P33)

US firms will feel pressure in China, trade war or not

2018 ◽  
Keyword(s):  
United States ◽  
Integrated Circuits ◽  
The United States ◽  
Xi Jinping ◽  
Donald Trump ◽  
Trade Surplus ◽  
Content Type ◽  
China Trade ◽  
Trade War ◽  
Trump Administration

Subject China's options for retaliating against US firms during trade tensions. Significance US President Donald Trump tweeted yesterday that he is working with China's President Xi Jinping to get China's telecoms giant, ZTE, "back in business, fast" -- even though it was penal US sanctions that forced the company to announce last week that it was stopping operations. The Trump administration is divided on whether its objective in threatening imports tariffs on Chinese goods worth 50 billion dollars, effective May 22, is to strike a deal to cut China's trade surplus with the United States or to change China's industrial practices. Impacts Compliance costs will rise even if trade tensions subside. Investors in industries that China sees as strategic (eg, semiconductors and integrated circuits) may face unwritten screening rules. Investors in automobile, aircraft and shipping manufacturing and finance may find new opportunities to enter the market.

Growing Incomes, Shrinking People—Can Economic Development Be Hazardous to Your Health?

2004 ◽  
Vol 28 (2) ◽  
pp. 249-270
Author(s):  
Michael R. Haines
Keyword(s):  
United States ◽  
Economic Development ◽  
The Netherlands ◽  
The United States ◽  
Real Income ◽  
Food Prices ◽  
Similar Process ◽  
Human Organism ◽  
Rapid Urbanization ◽  
The Impact

This article examines declining adult human stature in the nineteenth century in three countries: the United States, England, and the Netherlands. While this was not unprecedented, these three relatively important nations did experience a deterioration in the biological standard of living at a time when economic development was proceeding at a goodly pace. England and the Netherlands were among the most urbanized countries in Europe at the time, while the United States was still predominantly rural and agrarian. The essay argues that a confluence of circumstances contributed to the worsening of the physical condition of these populations even while real income per capita was growing. Among the factors involved were rapid urbanization without adequate public health and sanitation; a transport revolution and related commercialization, which brought people and goods into much closer contact; the consequent integration of disease environments, both within and across nations; and a growing dependence of the working populations on wage income along with a probable growing inequality in wealth and income, exacerbating the impact of fluctuations in food prices. Technological change had an impact on these events by lowering the relative prices of industrial goods. While the term Malthusian crisis (i.e., a shortage of subsistence followed by a rise in mortality) seems inappropriate in these cases, a similar process may have been taking place. It suggests that such a crisis may not commence with an increase in mortality but rather with an adjustment of the human organism to new nutritional circumstances.

scholarly journals The United States-China Trade War: Empirical Assessment

2020 ◽  
pp. 35-45
Author(s):  
Victor Adjarho Ovuakporaye
Keyword(s):  
United States ◽  
Global Economy ◽  
The United States ◽  
International Economy ◽  
Trade Relation ◽  
Empirical Assessment ◽  
China Trade ◽  
The Us ◽  
Trade War ◽  
The Impact

This paper aims to explore the US-China trade war by looking at various issues surrounding the US-China trade relation. The US-China trade war had been imminent since January 2018, meritoriously commenced on 6 July 2018, which is still ongoing. The US imposed sanctions on various Chinese goods, which was counter by the Chinese side also. Both side have felt the effect of the trade war though China felt the impact more than United States. Though, both nations have recently held positive trade talks which leads to the first phase of negotiation the trade war is still ongoing. If the partnership between the United states and China collapses, this will also end up harming the global economy severely since they are crucial cornerstones of the international economy.

The US–China Trade War: Impact on India and Other Asian Regions

2021 ◽  
Vol 3 (2) ◽  
pp. 144-168
Author(s):  
Rajesh Chadha ◽  
Sanjib Pohit ◽  
Devender Pratap
Keyword(s):  
United States ◽  
Bilateral Trade ◽  
The United States ◽  
Transport Sector ◽  
Jel Codes ◽  
Policy Responses ◽  
China Trade ◽  
The Us ◽  
Trade War ◽  
The Impact

The growing protectionism globally and the outbreak of a major US–China trade war led Indian exports facing higher tariffs. This article has tried to investigate how India should react to the trade tensions between the two largest economies of the world. This will help policymakers in India to assess the impact of the likely developments and choose between different policy responses. In a bilateral US–China trade war, while both the United States and China stand to lose in terms of GDP, exports and imports, India stands to gain. India stands to lose when the US–China trade war applies also to India, which faces higher tariffs from both. India’s losses increase further when India responds by increasing its tariffs on imports from the United States and China. In fact, reducing own tariffs could be a wiser step. Enhancing productivity measures by raising port efficiency and making trade and transport sector more efficient appear to pay dividend. India gains even more from joining the RCEP-like trading block when the United States and China are indulging in bilateral trade war. Last but not least, US–China trade war seems to affect Asian countries, some positively some negatively. JEL Codes: F13, C68, F14

scholarly journals Walls and Cows: Social Media, Vigilante Vantage, and Political Discourse

2020 ◽  
Vol 6 (2) ◽  
pp. 205630512092851
Author(s):  
Megan Ward
Keyword(s):  
United States ◽  
Social Media ◽  
Case Studies ◽  
Political Discourse ◽  
The United States ◽  
Political Movement ◽  
Mob Violence ◽  
The Social ◽  
The Impact ◽  
Trump Administration

Vigilante groups in the United States and India have used social media to distribute their content and publicize violent spectacles for political purposes. This essay will tackle the spectacle of vigilante lynchings, abduction, and threats as images of vigilante violence are spread online in support of specific candidates, state violences, and election discourse. It is important to understand the impact of not only these vigilante groups, but understand the communicative spectacle of their content. Using Leo R. Chavez’s understanding of early 2000s vigilante action as spectacle in service of social movements, this essay extends the analysis to modern vigilante violence online content used as dramatic political rhetoric in support of sitting administrations. Two case studies on modern vigilante violence provide insight into this phenomenon are as follows: (1) Vigilante nativist militia groups across the United States in support of border militarization have kidnapped migrants in the Southwest desert, documenting these incidents to show support for the Trump Administration and building of a border wall and (2) vigilante mobs in India have circulated videos and media documenting lynchings of so-called “cow killers”; these attacks target Muslims in the light of growing Hindu Nationalist sentiment and political movement in the country. Localized disinformation and personal video allow vigilante content to spread across social media to recruit members for militias, as well as incite quick acts of mob violence. Furthermore, these case studies display how the social media livestreams and video allow representations of violence to become attention-arresting visual acts of political discourse.

scholarly journals The Recent and Predictable Future: The U.S. Posture Toward China During and After the Presidential Election Campaign

2021 ◽  
Vol 01 (01) ◽  
pp. 2150001
Author(s):  
Yinhong Shi
Keyword(s):  
United States ◽  
The United States ◽  
Common Interest ◽  
Common Denominator ◽  
Military Conflicts ◽  
The Us ◽  
Trade War ◽  
Presidential Election Campaign ◽  
The U.S ◽  
Trump Administration

Due to the serious perverse actions of the Trump administration in the fields of strategic rivalry, political/ideological confrontation, diplomatic exchanges and trade war between China and the United States as well as in that of global governance, Biden’s new administration is bound to make revisions somewhat and somehow. However, the current posture of the United States toward China is not only strong and enduring international structural dynamics in many aspects, but also multilateral strong and enduring domestic political and social ones. Therefore, its revision is to be necessarily quite partial and limited, and the confrontation and competition with China in some other areas will probably intensify. To a large extent, the trend of China–US relations after the US election could be influenced or even shaped by China, so China’s strategy and policy and appropriate adjustment are of great importance. China needs to take the initiative to avoid military conflicts with the United States, treating it as the essential highest common interest and the vital “common denominator” and to strive for a sort of pragmatic, focused and concrete dialogue or negotiation with the Biden administration as soon as possible after it took office.

scholarly journals UKRAINIAN BUSINESS UNDER THE CONDITIONS OF WORD TRADE WARS: OBSERVER, PARTICIPANT OR VICTIM?

2021 ◽  
Vol 1 (36) ◽  
pp. 504-514
Author(s):  
S. Bai ◽  
N. Dyeyeva ◽  
T. Melnyk ◽  
K. Puhachevska
Keyword(s):  
United States ◽  
Economic History ◽  
Trade Balance ◽  
The United States ◽  
Military Operations ◽  
The Usa ◽  
Trade War ◽  
The Impact ◽  
Trade Wars

We focused our attention on the causes of the current trade war between the United States and China. The article analyzes the influence of electoral processes in the USA on the choice between free trade and protectionism. The relationship between China’s accession to the WTO, mutually beneficial cooperation with the United States, and trends in the trade balance between major trading partners have been determined. The article illustrates the main mutual claims between the United States and China, which led to the outbreak of «the largest trade war in economic history». We determined the main stages of the conduct of «military operations» and characterized the directions of the conflict escalation. The attention is focused on the losses in the trade war; the main beneficiaries from the «trade disagreements» were identified. We proposed an alternative opinion on the real consequences of the trade war for the warring parties. The article studies the impact of trade wars on world GDP and the national economies of the largest countries of the world. Attention is focused on the existence of «phantom trade» for finding the way out of sanctions and tariffs. The role of Ukrainian business in trade wars is examined in detail. We analyzed the main trade wars Ukrainian enterprises are involved in and possible results for the business. The article gives the author’s vision of the impact of the trade war on the trade balance between Ukraine and the key participants in the trade war: the United States and China. We concluded which branches of the Ukrainian industry are in priority for developing trade relations with China. The article highlights the main barriers to the development of trade with the United States and the reasons for the decline in the export of Ukrainian goods. We predicted how the improvement in relations between the United States and China will affect the role of Ukrainian business in the context of world trade wars.

TRADE WAR BETWEEN CHINA AND THE USA FROM THE POINT OF VIEW OF RUSSIAN NATIONAL INTERESTS

2021 ◽  
Author(s):  
M.S. Batagaeva ◽  
◽  
A.D. Rakhimova ◽  
Keyword(s):  
United States ◽  
International Conflict ◽  
The United States ◽  
Point Of View ◽  
National Interests ◽  
Russian Economy ◽  
The Usa ◽  
Trade War ◽  
The Impact

The paper evaluated the impact of the of the trade war between China and the United States on the Russian economy. The main spheres of the Russian economy affected by the international conflict are highlighted and the impact on them is assessed.

Economic Impact of Unilateral Free Trade

2021 ◽  
pp. 81-83
Author(s):  
Aarnav Narain Jalan ◽  
Anshika Bajaj
Keyword(s):  
United States ◽  
Free Trade ◽  
Manufacturing Sector ◽  
The United States ◽  
Economic Policies ◽  
Donald Trump ◽  
China Trade ◽  
American Medicine ◽  
Trade War ◽  
Trump Administration

President Donald Trump condemned the interdependence of the United States with other countries in a speech on March 24th, 2020 saying, “This crisis has underscored just how critical it is to have strong borders and a robust manufacturing sector. - ''… Our goal for the future must be to have American medicine for American patients, American supplies for American hospitals, and American equipment for our great American heroes.” [1] The United States has also been part of the ongoing US-China trade war, with both sides imposing numerous tariffs on each other's imports. These actions speak to the protectionist economic policies of the Trump administration.

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