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UNP-RC DP 18-E-03.pdf378KbAdobe PDF
Title :Harmful Effects of Import Restrictions and Non-Market Measures
Authors :Wakasugi, Ryuhei
Publisher :国際産業経済研究センター
Issue Date :18-May-2018
Journal Title :UNP-RC Discussion Paper Series
Volume :18-E-03
Abstract :The administration of U.S. President Donald Trump imposed import tariffs of 25% on steel and 10% on aluminum under Section 232 of the Trade Expansion Act of 1962 on the grounds that steel and aluminum imports are impairing national security by weakening the domestic industries and released a plan to slap a 25% tariff on Chinese products worth $50 billion under Section 301 of the Trade Act of 1974 for what it sees as intellectual property infringement by China. The United States’ unilateral actions are unacceptable under WTO rules, even though the existing WTO rules are deemed insufficient as rules governing multilateral trade activities including those involving China in terms of correcting distortions in the global market and protecting intellectual property rights. Trying to solve a bilateral trade conflict by power with no judge to referee is a recipe for an economic tailspin, prompting retaliation from the other party, causing a contraction in trade not only between the two conflicting parties but also across the world, resulting in a loss in global economic welfare. All trading countries, including the United States and China, should work to improve the functioning of the market mechanism by eliminating non-market measures and enhancing intellectual property protection under a set of multilateral trade rules, in order to prevent the United States from taking unilateral import restrictions and its trade partners, such as China, from taking retaliatory measures.
Type Local :Technical Report
Language :eng
URI :http://hdl.handle.net/10623/76284
Appears in Collections:30 新潟県立大学ディスカッションペーパー・シリーズ = UNP-RC Discussion Paper Series

Please use this identifier to cite or link to this item: http://hdl.handle.net/10623/76284

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