Podcast: Trade war or trade bargain?

About the author:

Michael Knox
Author name:
By Michael Knox
Job title:
Chief Economist and Director of Strategy
Date posted:
19 March 2018, 10:59 AM

Poorly-informed public debate would suggest that the USA has recently embarked upon a "Trade War" against other important members of the World Trade Organisation.

Closer examination shows that the US has a lower trade-weighted average import tariff than either the European Union, Australia, China or India. The American President has talked about dumping duties and raising tariffs to levels which mirror those of the European Union and China.

Another solution might be that the European Union and China reduce their import tariffs down to the lower level, that the US charges them, for importing their products.

Perhaps the Europeans and the Chinese might bring actual sincerity to the debate on international trade rather the pretend sincerity of Jean-Claude Juncker.


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