... in their overall size, targeting only $18 billion worth of Chinese imports, these restrictive decisions affected a number of strategic sectors like electric vehicle (EV) batteries, computer chips and medical products.
The odds are that the US trade protectionism will go further, no matter who wins in the forthcoming November presidential election. The apparent assumption in the White House is that since the US remains a lucrative market for all US trading partners, eventually these partners will ...
... imposes tariffs against them out of “reasons of national security.” As the President of the European Commission Jean-Claude Juncker emphasized, “these unilateral U.S. tariffs are unjustified and at odds with World Trade Organization rules. This is protectionism, pure and simple.” President of France Emmanuel Macron called the U.S. administration’s decision illegal and mistaken. Prime Minister of Canada Justin Trudeau spoke rather sharply at the June 2018 G7 Summit in Quebec calling Washington’s ...
... openness of their domestic markets. Of note is the critique of free trade in works by Erik S. Reinert and J. Stiglitz, which extends an ongoing discussion since the beginning of trade policy debates. In the academic literature, views on the advantages of protectionism versus free trade have been in constant flux. Long before Reinert or Stiglitz, mercantilists argued for the need to rely on protectionism, highlighting trade protection policies exclusively in terms of the need to accumulate domestic resources....
... and political leverage, the government is trying to replace imports of essential products with local production on the territory of Brazil, thus facilitating job creation and providing for additional budget revenues.
One of the reasons for increasing protectionism
is intensifying trade relations with China
, which dominates in foreign direct investment and is a major trade partner of Brazil, outpacing the USA and accounting for 75.5 billion USD of the total trade volume with Brazil in 2012. Whereas ...