In The News

RSIS: Trump’s Protectionism

Linda Lim March 21, 2018
The Trump administration adopts a protectionist stance, contending that the United States is not treated fairly in trade agreements. Protectionism is harmful for economies, and critics are many, inside the United States and beyond, for the US tariffs on aluminum, steel, solar panels and more. Yet politicians often rely on protectionist messages that appeal to the working class, increasing voter...

Reuters: World Steel Markets Unfazed by Tariffs

Maytaal Angel March 14, 2018
The US is proceeding with 25 percent tariffs on steel imports and 15 percent on aluminum. Canada and Mexico are exempted for now. The US is the world’s second largest consumer of steel, at just under 100 metric tons, lagging far behind China at almost 700 metric tons. The US is the fourth largest producer, again lagging behind China, responsible for half the world’s steel and driving global...

Times of India: Road to Trade War

Nayan Chanda March 14, 2018
Just before a special election in a congressional district spanning suburbs and rural areas of southwestern Pennsylvania, the US president announced tariffs on steel and aluminum imports for the purposes of national security. The hope was to rally blue-collar and rural workers to vote for the Republican candidate, the “world economy be damned,” as YaleGlobal founding editor Nayan Chanda notes....

Financial Post: Tariffs Set Dangerous Precedent

Joe Chidley March 6, 2018
The Trump administration announced a plan to impose tariffs: 25 percent for steel imports and 10 percent for aluminum. There are many unknowns including exemptions for allies and close trading partners or certain products. The plan relies on Section 232 of the Trade Expansion Act of 1962 and World Trade Organization rules which allow blocking imports for national security purposes: “The World...

Bloomberg: Trump on Trade Wars – “Easy to Win”

Joe Deaux, Andrew Mayeda, Toluse Olorunnipa and Jeff Black March 2, 2018
US President Donald Trump roiled US and global stock markets, sparking fears of trade retaliation in one day, with a plan for adding tariffs on steel and aluminum that was postponed and scheduled for later announcement. The plan would add 25 percent tariffs on steel and 10 percent on aluminum for an indefinite period with no details on exempted countries. Steel and aluminum are an intricate part...

The New York Times: Banks Could Control Gun Sales if Washington Won’t

Andrew Ross Sorkin February 20, 2018
Jurisdictions that restrict gun sales, like Australia or Connecticut, soon experience fewer mass shootings, suicides and other shooting deaths. The United States has the highest rate of gun violence among developed nations, yet the National Rifle Association and Congress resist background checks and other controls. In the wake of a Florida school shooting that left 17 dead, Andrew Ross Sorkin of...

CNN: US Tariffs on Steel Would Hit China and Entire Global Trading System

Julia Horowitz February 19, 2018
The Trump administration, after complaining about China’s low prices for steel, has a deadline of April 11 for deciding on new steel tariffs. “However, China is not the top country from which the United States imports steel,” explains Julia Horowitz for CNN. “The United States imports most of its steel – 16% – from Canada. It imports 13% from Brazil, 10% from South Korea, 9% from Mexico and 9%...