Open AccessThe Influence of D. Trump’s Policy on International Trade
Author(s) -
Ksenia Chudinova
Publication year - 2019
Publication title -
meždunarodnaâ torgovlâ i torgovaâ politika
Language(s) - English
Resource type - Journals
eISSN - 2414-4649
pISSN - 2410-7395
DOI - 10.21686/2410-7395-2019-3-65-82
Subject(s) - international trade , trade war , protectionism , trade barrier , china , commercial policy , international economics , free trade , economics , tariff , international free trade agreement , competition (biology) , european union , technical barriers to trade , political science , ecology , law , biology
The increasing level of tension in the trade relations between the United States and other countries, especially China; the potential escalation of trade wars, when countries take more and more explicit retaliatory protectionist measures, becomes a sustainability risk to development of international trade. The US actions taken in 2018–2019 to protect the internal market turned into into a full-fledged trade war, directed primarily against China - the country the United States has the largest trade deficit with. The introduction of the US tariff restrictions on imports from China and several other countries has caused retaliatory measures, as a result the uncertainty of the prospects for international trade increases. Non-tariff measures, such as phytosanitary requirements and technical barriers to trade, have also seen an increase in restrictions.An important source of controversy is the different positions of countries regarding the permissible degree of state support for enterprises. Developed countries, especially the United States, Japan, and the countries of the European Union, have fairly rigidly regulated rules regarding free competition. A cause for great concern is not only the US trade war with China and its consequences for other countries, but also the problems of international trade regulation.