Session 3: Risks and Consequences of a Trade War
Since the 2008-09 global financial crisis, G20 economies have repeatedly pledged to maintain market openness, while in fact applying nearly 8000 new trade-restrictive measures. The Trump administration argues that trade agreements treat U.S. firms and workers unfairly, and has embarked on a 1980s-style unilateralist trade policy, including launching Section 232 “national security” investigations of steel and aluminum imports and a Section 301 investigation of China’s Intellectual Property practices. GATT 1994 disciplines would entitle trading partners to suspend concessions in response to independent actions by the U.S. Will this be enough to spark a trade war, and escalation of protectionist measures? What are the consequences for globally-engaged U.S. firms, as well as for allies and partners which have their own complex economic relationships with China and other major economies?
Featuring:Moderated by:
Mr. Scott Miller
Senior Adviser and Scholl Chair in International Business, CSIS
