The Intelligence from The Economist Trade disunion: America’s tariff wars
Oct 7, 2019
In this engaging discussion, Samaya Keynes, the trade and globalization editor, explores the escalating trade tensions between the U.S., China, and the EU. She sheds light on the latest tariff negotiations and their impact on American industries. The conversation dives into the breakthrough of quantum supremacy and its implications for computing and cybersecurity. Additionally, Keynes touches upon the imminent flooding of Hassan Kaif in Turkey and the cultural cost of balancing progress with preserving historical heritage.
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US-China Trade War Status
- The US-China trade war continues, with negotiators resuming talks in Washington D.C.
- There are positive signs, but significant differences remain, making a major breakthrough unlikely.
US-EU Trade Dispute Resolution
- A long-running trade dispute between the US and EU concluded at the WTO, authorizing US tariffs on EU goods.
- This includes products like Parmesan cheese, Scotch whiskey, and aircraft, impacting American consumers.
Trade War Significance and Trump's Stance
- The US-China trade war dwarfs the US-EU dispute in financial terms, covering hundreds of billions versus $7.5 billion.
- President Trump appears less responsive to economic pain caused by tariffs than predicted.