Open AccessTHE US FOREIGN ECONOMIC POLICY IN 2017-2020: CORONAVIRUS TEST
Author(s) -
E. V. Emelianov,
П. А. Аксенов
Publication year - 2020
Publication title -
meždunarodnaâ torgovlâ i torgovaâ politika
Language(s) - English
Resource type - Journals
eISSN - 2414-4649
pISSN - 2410-7395
DOI - 10.21686/2410-7395-2020-2-47-56
Subject(s) - recession , covid-19 , pandemic , test (biology) , sanctions , business , economic shortage , economics , economic policy , international trade , political science , medicine , law , macroeconomics , paleontology , linguistics , philosophy , disease , pathology , government (linguistics) , biology , infectious disease (medical specialty)
Cutting US Federal Reserve’s policy rate in response to coronavirus, financial measures to fight the possible perspectives of recession may be very effective in the short run, but the case is more complicated than ever been. The usual tools of economic policy are under the question and Trump's trade policy seems to be on the way of the United States fight against COVID-19. The American tariffs on Chinese products – from protective gear for doctors and nurses, personal protective equipment, masks, sterile gloves to the medical equipment – have its impact on the United States market and may contribute to shortages of these products. So the Trump administration’s tariffs may hit medical products which are needed for treating COVID-19 and become an obstacle to fight this pandemic. While some exclusions were made, their effectiveness is limited. At the same time cancellation of sanctions may contribute to fight this pandemic by allowing access to medical products and supporting international trade at the face of recession.