“Power-Based” Bargaining Over Trade: What Has Been the Economic Cost?
The U.S.-China trade war represents a natural experiment in the sense that we have not seen such wide-ranging increases in tariffs since the 1930s, when Congress passed the Smoot-Hawley Tariff Act (Bown and Zhang, 2019). Not surprisingly, applied trade economists…
“Power-Based” Bargaining Over Trade: Myopic Behavior by the United States?
Analysis of the current administration’s trade policy choices has typically interpreted them in terms of a zero-sum game, i.e., rather than generating mutual benefits in a positive-sum game, international trade is a game where economically, one country is a winner…
China’s Agricultural Import Commitments: Inefficient “Managed” Trade?
In light of the sectors targeted by China’s retaliatory tariffs against U.S. imports, it is not surprising that agriculture was a critical component of the Phase One Trade Agreement between the U.S. and China, that went into effect on February…
Recent Comments