Simon Evenett, Johannes Fritz, 01 July 2019

What is the practical and intellectual significance of the Sino-US tariff hikes of 2018? This column, taken from a recent Vox eBook, argues that the uncertainty engendered by the trade tensions is likely to have had a larger economic impact than the direct restrictive effect on international trade. The intellectual significance, meanwhile, lies in prompting the questions of what actions constitute a trade war and of whether trade policy analysts, in focusing on instances of brazen protectionism, have failed to spot more far-reaching commercial policy developments.

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