Effects of eliminating the US–China trade dispute tariffs

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dc.creatorZheng, Jian
dc.creatorZhou, Shudong
dc.creatorLi, Xingzi
dc.creatorPadula, Antonio Domingos
dc.creatorMartin, Will
dc.date2023-05
dc.date2023-02-06T07:38:50Z
dc.date2023-02-06T07:38:50Z
dc.date.accessioned2026-06-27T15:21:39Z
dc.descriptionThis paper examines the economic implications of the tariff increases by the United States and by China during the Trump era trade dispute and the gains from their potential removal. The increases were dramatic, with the US raising tariffs on industrial products by a factor of six – with particularly large tariff increases on intermediate and capital goods – and China increasing its tariffs on US agricultural products more than five-fold. These changes distort trade and production decisions in both countries and undercut the global trading system. They resulted in substantial economic losses to each country, with import volumes reduced by 4.9% in China and 4.5% in the USA, and bilateral trade patterns were massively distorted. Their cost to the United States rose at the end of 2021, when the import expansion provisions of the Trump era Phase One Agreement expired. Negotiating the abolition of these costly and disruptive tariffs would generate substantial real income gains for both countries and help lower US consumer prices.
dc.identifierhttps://hdl.handle.net/10568/128436
dc.identifier.urihttp://hdl.handle.net/123456789/102115
dc.languageen
dc.publisherCambridge University Press
dc.rightsOpen Access
dc.sourceZheng, J., Zhou, S., Li, X., Padula, A.D. and Martin, W. 2023. Effects of eliminating the US–China trade dispute tariffs. World Trade Review 22(2). https://doi.org/10.1017/S1474745622000271
dc.subjecteconomic analysis
dc.subjecttrade
dc.subjecttariffs
dc.subjecttariff escalation
dc.subjectagricultural products
dc.subjectincome
dc.subjectconsumer prices
dc.subjectnegotiation
dc.subjectwto
dc.titleEffects of eliminating the US–China trade dispute tariffs
dc.typeJournal Article

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Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)