Turning away from globalization? Trade wars and the rules of competition in global trade: Implications for the EU

Publications

27 Mar 2020

Trade & Macro

mBank – CASE Seminar Proceedings

Download publication

The trade war between the U.S. and China began in March 2018. The American side raised import duties on aluminum and steel from China, which were later extended to other countries, including Canada, Mexico and the EU member states. This drew a negative reaction from those countries and bilateral negotiations with the U.S. In June 2018 America, referring to Section 301 of its 1974 Trade Act, raised tariffs to 25% on 818 groups of products imported from China, arguing that the tariff increase was a response to years of theft of American intellectual property and dishonest trade practices, which has caused the U.S. trade deficit.

Will this trade war mean the collapse of the multilateral trading system and a transition to bilateral relationships? What are the possibilities for increasing tariffs in light of World Trade Organization rules? Can the conflict be resolved using the WTO dispute-resolution mechanism? What are the consequences of the trade war for American consumers and producers, and for suppliers from other countries? How high will tariffs climb as a result of a global trade war? How far can trade volumes and GDP fall if the worst-case scenario comes to pass? Professor Jan J. Michałek and Dr. Przemysław Woźniak give answers to these questions in the mBank-CASE Seminar Proceeding No. 161.

Related publications

The consequences of granting PNTR to Kazakhstan

Trade & Macro

Belarus Business Barometer, October 2023

The report explores how the political unrest in Belarus, especially after the disputed presidential elections in August 2020, led many businesses to leave the country. It discusses the difficulties these businesses faced, like more government scrutiny, fewer customers, and limited chances to grow. After Russia’s invasion of Ukraine in February 2022, new economic sanctions made … Continued

Trade & Macro

CASE Reports

How Credit Guarantee Schemes Could Ease Access to Funding for Companies with Belarusian Capital in the EU

The policy paper offers solutions to help companies with Belarusian owners in the EU access funding more easily. It suggests using global credit guarantee schemes as inspiration. These would address issues like a lack of credit history or collateral, which often hinder Belarusian businesses in the EU. Two main ideas are proposed. One is an … Continued

Trade & Macro

No results

Turning away from globalization? Trade wars and the rules of competition in global trade: Implications for the EU

Related publications

The consequences of granting PNTR to Kazakhstan

Belarus Business Barometer, October 2023

How Credit Guarantee Schemes Could Ease Access to Funding for Companies with Belarusian Capital in the EU

Thanks for joining us!

Join the community of informed readers. Subscribe to our newsletter.