Will The Emerging Trade War Reorient How We Think About Sustainability?
by Brent Sohngen (sohngen.1@osu.edu) The world has been on a hot streak over the last 70 years. Global income growth shot up at an average annual pace of 2% per year (Figure 1). This fast pace of wealth accumulation more…
US “Reciprocal Tariffs”: What Do They Mean?
By Ian Sheldon (sheldon.1@osu.edu) Currently the United States is on course to deviate from its World Trade Organization (WTO) commitments by unilaterally resetting all of its previously bound tariffs, President Trump referring to these as “reciprocal tariffs”. However, the interpretation…
Could US Buyers Bear the Cost of Import Tariffs?
By Ian Sheldon (sheldon.1@osu.edu) To trade economists this seems a rather odd question, the answer to which would be: well of course tariffs impose costs on buyers (consumers and firms purchasing inputs), and the basic explanation can be found in…
Housing Prices and Tariffs on Canadian Softwood Lumber
by Brent Sohngen (Sohngen.1@osu.edu) Click here for roughly 5 minute podcast version of this post [Global Forest Podcast] Understandably, there has been confusion and concern in the marketplace due to the weekend decision by the Trump Administration to impose tariffs…
Will Proposed US Tariffs Hurt US Farmers?
By Ian Sheldon (sheldon.1@osu.edu) In a previous post (Ian Sheldon, “Do US Buyers Bear the Cost of Import Tariffs?”), it was shown that based on analysis of the 2018-19 trade war with China, US buyers bore the cost of US…
Do US Buyers Bear the Cost of Import Tariffs?
By Ian Sheldon (sheldon.1@osu.edu) To trade economists this seems a rather odd question, the answer to which would be: well of course tariffs impose costs on buyers (consumers and firms purchasing inputs), and the basic explanation can be found in…
COVID-19’s Impact on Commodity Markets
Dr. Ian Sheldon and Ben Brown, Assistant Professor of Professional Practice in Agricultural Risk Management, discuss COVID-19’s Impact on Commodity Markets, International Trade and the WHO.
“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…
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