Tariffs, geopolitical conflicts and US reindustrialisation: a note

Guglielmo Forges Davanzati and Giovanni Scarano

No 295, Departmental Working Papers of Economics - University 'Roma Tre' from Department of Economics - University Roma Tre

Abstract: The note discusses the strategic foundations of the US’s new protectionism. Contrary to the argument that protectionism serves to curb deindustrialisation stemming from globalisation, the paper highlights that the reduction in the proportion of manufacturing output in US GDP ultimately depends on financialisation. From this perspective, tariffs can be seen as an attempt to discourage the international movement of capital, a key component of globalisation that directly supports financialisation.

Keywords: Financialisation; Globalisation; Deindustrialisation; International Capital Movements (search for similar items in EconPapers)
JEL-codes: E65 F10 F21 F38 F62 (search for similar items in EconPapers)
Pages: 12
Date: 2026-06
New Economics Papers: this item is included in nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:rtr:wpaper:0295

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