In 2018, US President Donald Trump finally followed through on his “America first” trade strategy. Yet it is already clear that his policies will have little impact on trade growth, and even less effect on China’s behavior.
CAMBRIDGE – US President Donald Trump’s “America first” trade policy came into full bloom in 2018, and it was an ugly sight to behold. In addition to tariffs on steel and aluminum from Europe and other countries, Trump imposed levies on $250 billion worth of imports from China. By the end of the year, he had raised tariffs on 12% of total US imports, causing trade partners to retaliate with levies on 8% of total US exports.Trump’s trade-policy unilateralism is unprecedented in the post-war period, which isRead More »