 WHAT COMES NEXT? A GLOBAL TRADE WAR OR THE RENEGOTIATION OF US TRADE AGREEMENTS?Revista de Economie Mondiala / The Journal of Global Economics, 2018, vol. 10, issue 1, 42-60 Abstract: In March 2018, the US President announced additional tariffs on steel and aluminum imports to be applied to all exporters in the US market. The main reason behind these protectionist measures is the threat to national security caused by the US balance of trade, as reflected by annual losses of hundreds of billions of dollars. Strengthening of the US steel and aluminum industries, job creation and, hence, the consolidation of the US economy appear to be among the benefits of the new tariffs.This article aims to analyze US trade and issues related to the major trading partners, as well as the new protectionist measures initiated by president Trump, alongside the domestic and international responses. Finally, the article highlights the immediate and foreseeable consequences of these measures and concludes that rather than triggering a global trade war, the Trump administration is preparing the means to exert pressure to renegotiate the US trade agreements. Keywords: USA; European Union (EU); trade; protectionism; tariffs (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:iem:journl:v:10:y:2018:i:2:p:42-60 Access Statistics for this article Revista de Economie Mondiala / The Journal of Global Economics is currently edited by Simona Moagar Poladian, PhD More articles in Revista de Economie Mondiala / The Journal of Global Economics from Institute for World Economy, Romanian Academy Contact information at EDIRC. |
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