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Focusing on the interconnection of tariff structure, international trade and welfare evaluation, the book investigates the characteristics of tariff structures of China and the U.S. in recent years and measures the impact of the Sino–U.S. trade friction that started in 2018. The first part of the book discusses levels and evolution trends of tariff systems of China and the U.S. from 2000 to 2014 and makes a comparison between the two countries'tariff structures. The second part centers on the Sino–U.S. trade friction in 2018, analyzing its development, overall impact on welfare, and relevant impact mechanisms. The author draws on the quantitative analysis method currently prevailing in the field of international trade, taking global value chains, intermediate goods, and variable markup into consideration. In contrast to the research conclusion applying standard trade theory, the result indicates that either unilateral imposition of additional tariffs or bilateral tariff friction will give rise to the deteriorated welfare level of both countries. The book will appeal to academics and policy makers interested in international trade, China–U.S. relation and the trade friction.

Global Tariff War: Economic, Political and Social Implications traces the range of impacts that global tariff wars in international trade can have on the growth and expansion of national economies. The Global economic and political status quo has faced turmoil after the US President's 2018 announcement on the imposition of import tariff steel and aluminium products. Taking as its core focus the trade war between the USA and China, this book focuses impact on the rest of the world's economies, and explores key areas including neo-protectionism, globalization and restricted trade, inflation volatility, FDI and tariff rates, and the environmental footprint of global trade tariffs. Having previously played the role of campaigner in favour of free trade since the World War II, today's United States has projected itself towards greater protectionism and patriotism. Conclusions arise that tariff wars, as well as trade wars, are damaging for national and transnational economies, as well as other sectors, such as society and environment. Evidence presented in the work illustrates that developed countries are impacted more adversely in comparison to developing zones due to this type of tariff war. Offering a range of illuminating perspectives from under explored developing economies being directly affected by these policies, this collection presents a unique critical insight into this complex and evolving area of geo-political and economic practice.

An unprecedented trade war broke out between the world's two largest economies in 2018 and escalated subsequently. It is the first major economic conflict to occur in the era of globalization, with its aftermath going far beyond trade. The trade war weighs heavily on China and the United States and threatens the world economy and the global trading system.This book provides a timely account of the China–US trade war with insights into its causes and consequences. Examining through the lenses of both history and theory, it analyzes the context and causes of the trade war, the intertwined processes of tariff combat and trade negotiations, and the impacts on international trade, foreign direct investment, macroeconomic performance and firm behaviour. It also addresses the long-term strategic and geopolitical implications of the ongoing trade and economic confrontation.This book will appeal to those interested in international economics and politics, global governance and development.

The USA and China, the world's largest economic powers, have been engaging in trade war since January 2018. The impact of this trade war is felt not only by US and China but also by other economies who have economic ties with them. This book provides insights into damages caused by this trade war. The first section of the book looks at the impact of the trade war on the global economy. It goes deeper to examine the trade war impact on the South Asian region. It is well-known that any imposition of new tariffs or an increase in existing tariffs would make imports more costly and render the exported goods less competitive. Yet, the book posits that the trade war has provided a window of opportunity to other countries not caught in it. The South Asian region, with countries like Bangladesh, India and Sri Lanka, has actually reaped benefits from the widening trade dispute between the world's two biggest economies. This book will be a useful reference to help policymakers to undertake informed decisions and initiate programs to minimise the trade war impact.

Discover the impact of blockchain on the trade relationship between the world's two largest economies China's Trump Card: Cryptocurrency and its Game-Changing Role in Sino-US Trade grapples with the fascinating issue of the effect of digital currencies on world trade and the relationship between China and the United States in particular. Full of forward-looking insights, solid data analysis, extensive collection of relevant literature and incisive observations, author Raymond Yeung compellingly argues that cryptocurrencies will have a significant role to play in harmonizing geopolitical power struggles. Covering all the subjects required for a full understanding of the future of the Sino-US trade relationship, China's Trump Card discusses: The looming risks of de-dollarization in the wake of de-globalization The pressing need to construct a new currency standard superior to the fiat money regime in response to the global imbalance China's diversification of its offshore portfolios to include alternative investments The implications of Facebook's plan to create a blockchain-based digital currency The fact that blockchain offers a fungible asset class option for China's reserves investment, which can be relatively independent of political considerations This book is perfect for business leaders, investors, financial analysts, policymakers, economists, fintech developers and others who have a stake in the outcome of the blossoming trade disputes between the United States and China.

'The author has skilfully distilled a sea of data into a readable book on the current US-China trade spats … A valuable resource for those wishing to untangle the present complicated economic relationship between China and the US.'CHOICEUS vs China: From Trade War to Reciprocal Deal gives readers an up close account on the rough-and-tumble trade talks between the US and China. The book provides a neutral and balanced perspective in addressing the historical, political and cultural backgrounds that had made US-China trade wars inevitable, but also explores how the two richest and most powerful countries and long-time rivals may eventually reach a consensus to support a bilateral trade agreement for the ages.Related Link(s)

In this book, first published in 1890, the author endeavours to determine whether protectionism or free trade better accords with the interests of labour – particularly with regards to the raising of wages. He analyses the popularity of protection in the face of the evidence of its fallacies, and examines the principle of free trade and its consequences.

The negotiation of the Free Trade Area between the US and Israel was, at the time, a remarkable political accomplishment, and is a useful case study because it includes all of the industrial and agricultural sectors, thus spanning the full spectrum of issues that would be dealt with in negotiations. In addition, it has the advantage of involving just two countries and lasting only fifteen months from start to finish, facilitating a comprehensive analysis. This book, first published in 1990, provides a valuable analysis of this vital case study of an FTA from commencement to completion.

Mathew Carey's long-neglected “The New Olive Branch” offers new insight into political economy as it really happened. This is the first-ever scholarly edition of Carey's most important economic work. Like other volumes in Anthem's “Economic Ideas that Built America” series, it gives the reader easy access to historical works that have been dropped from the modern economic canon because of their uncomfortable fit with contemporary conceptions of classical economics rooted in the work of Adam Smith, David Ricardo and Thomas Malthus. In “The New Olive Branch,” Carey derided those so-called classical economists as visionary theorists with little grasp of real-world problems. Rejecting grand theories, Carey instead looked to historical examples and statistics to argue that government policy, and particularly the protection of manufacturers, was crucial to the development of a strong, independent American economy. In this volume, “The New Olive Branch” is accompanied by portions of Carey's “Addresses of the Philadelphia Society for the Promotion of National Industry” (1822), which offer further insight into his rejection of classical economics. While such views have long been out of fashion, overtaken by the popularity of classical economics, they were extremely influential in early America. Carey's arguments illuminate how a large proportion of Americans thought about their economy while providing a corrective to the anachronistic overemphasis of the role of laissez-faire economics in early America.

The United States is one of the world's most open economies. In 2010, the average U.S. tariff on all goods remained near its historic low of 1.3 percent, on an import-weighted basis, essentially unchanged from the previous update in 2009. Nonetheless, significant restraints on trade remain in certain sectors. The U.S. International Trade Commission estimates that U.S. economic welfare, as defined by total public and private consumption, would increase by about $2.6 billion annually by 2015 if the United States unilaterally ended all significant restraints. Exports would expand by $9.0 billion and imports by $11.5 billion. This book measures the effects of unilateral liberalization of U.S. import restraints and the effects on the U.S. economy when both the United States and its trading partners engage in reciprocal liberalization.

This book explores the growing list of non-tariff trade barriers raised by the US, EU and Japan and assesses the prospects for significant trade liberalization. The author examines the liability of global free trade through a review of the complaints that these three countries raised about each other over a five-year period. He concludes that free trade may be increasingly hampered as barriers are created more rapidly than can be resolved, and that the prospects for significantly strengthening safeguards are limited.

This volume analyzes the economic effects of a prospective free trade agreement between the United States and Colombia. The study uses the Global Trade Analysis Project (GTAP) model of world trade and economic activity to analyze the expected trade and other economic impacts of the prospective FTA and to examine bilateral trade and investment flows, bilateral trade frictions, and implications of the prospective accords for the bilateral, regional, and global trade relations of the two countries.

ContentsForeword, ixI. Introductory, 1II. The Nature of Protection, 8III. Critique of Popular, and Fallacious, Arguments for Protection, 17IV. The Argument for Free Trade, 50V. Rational Protection, 63VI. Anti-dumping Legislation and Special Forms of Foreign Trade Control, 89VII. The Future Commercial Policy of the United States, 107Appendix I, 134Appendix II, 150Originally published in 1942.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

John Taylor of Caroline (1753–1824) was one of the foremost philosophers of the States'rights Jeffersonians of the early national period. In keeping with his lifelong mission as a “minority man,” John Taylor wrote Tyranny Unmasked not only to assault the protective tariff and the mercantilist policies of the times but also “to examine general principles in relation to commerce, political economy, and a free government.” Originally published in 1822, it is the only major work of Taylor's that has never before been reprinted. As an early discussion of the principles of governmental power and their relationship to political economy and liberty, Tyranny Unmasked is an important primary source in the study of American history and political thought. F. Thornton Miller is Assistant Professor of History at Southwest Missouri State University. Please note: This title is available as an ebook for purchase on Amazon, Barnes and Noble, and iTunes.