This paper studies the nonmarket environment and possible nonmarket strategies of Airbus, with a focus on the WTO disputes between the European Union and the United States regarding their subsidies for Airbus and Boeing. The paper studies the institutions involved in transatlantic trade...

Using the recent U.S.-China trade war as a laboratory, we show that policy uncertainty shocks have a significant impact on stock prices. This impact is less negative for firms that heavily rely on bank debt whereas non-bank debt does not have a mitigating effect. Moreover, the mitigating effect...

If international trade is strictly trade in intermediate goods, would the common presumption, that small, less developed economies (the South) lose from trade wars still be true? We address this question by constructing a dynamic general equilibrium model in which the North and the South trade...

The trade war between the US and China is the biggest trade conflict in this century which has a wide impact not only on the two countries but also other partner countries. The purpose of this study was to analyze financial immunity to stock returns due to the US-China trade war using a...

More than two decades ago, the literature on the Chinese intellectual property system was filled with commentaries on the trade threats exchanged between the United States and China in relation to the inadequate protection and enforcement of intellectual property rights in the latter. At that...

In the wake of Brexit and the Trump tariff war, and a general weakening of the political support for free trade, central banks have been faced with the need to reconsider the role of monetary policy in managing the economic effects of unexpected hikes in tariffs and trade costs. Although tariffs...

The semiconductor industry stands at the center of the intensifying Sino-American trade conflict. Employing a multi-country, multi-sector general equilibrium modeling framework with imperfect competition and heterogeneous firms, we perform qualitative and quantitative analyses of protectionist...

What is the nature of the distributional effects of trade? This paper demonstrates conceptually and empirically the importance of “trade-induced horizontal inequality,” i.e. inequality brought about by trade shocks that occurs among workers with the same level of earnings prior to the shock....

This work was set to investigate empirically the possible impact of economic policy uncertainties as well the trade conflict between China and the US on the Official Development Assistance to the West African Sub-region. From the bivariate test for linear association, we found a co-movement of...

Although the number of interstate disputes has fallen in the past 30 years, rising geopolitical competition is challenging the foundation of the absence of great power war. Additionally, the number of internal conflicts is surging. At the same time, globalisation has spun a net of global trade...

This contribution provides a cost-benefit analysis in a partial equilibrium framework to investigate the welfare consequences of a prohibitive regulatory non-tariff measure (NTM) in the form of a sanitary and phytosanitary (SPS) measure aimed at a foreign product with perceived negative...

The worrying trajectory of US economic strength relative to China signals a need to reassess the US’ rules of engagement on trade and investment with our principal economic rival. China is turning more authoritarian, more focused on self-sufficiency, challenging US dominance in critical...

The unexpected outbreak of the U.S.-China trade war led to dramatic increases in the import and export tariffs confronting Chinese firms. Due to firm-level differences in trade engagement, customs trade data combined with tariff changes allow us to measure firm-level exposure to the trade war....

The trade war initiated by the Trump administration is the largest since the US imposed the Smoot-Hawley tariffs in the 1930s and was still raging when he left office. We analyze how the trade war impacted the 2020 US Presidential election. Our results highlight the political salience of the...

The UK has made major contributions to the development of investor-state dispute settlement from 1920-2020. This essay shows that the UK contributed in three ways (1) law-making, both before and after the launch of its investment treaty programme in the early 1970s; (2) dispute settlement –...

This paper investigates the distributional welfare effects of the recent trade war in the solar manufacturing sector resulting from the U.S. government-initiated trade tariffs against Chinese solar manufacturers. Our structural econometric model incorporates the vertical structure between...

This paper studies global trade responses to the US-China trade war. It estimates the tariff impacts on product-level exports to the US, China, and rest of world. On average, countries decreased exports to China and increased exports to the US and rest of world. Most countries export products...

In the wake of Brexit and Trump trade war, central banks face the need to reconsider the role of monetary policy in managing the inflationary-recessionary effects of hikes in tariffs. Using a New Keynesian model enriched with elements from the trade literature, including global value chains,...

International investment agreements typically permit foreign investors to litigate against host countries (Investor-State Dispute Settlement, ISDS). Yet, common criticism holds that host countries would benefit from allowing only foreign governments to litigate (State-State Dispute Settlement,...

This article argues that WTO dispute settlement should address distortions of international trade law caused by contemporary state capitalism by controlling domestic measures for their compatibility with the object and purpose of the WTO. The article begins by examining EU countermeasures...

The article analyzes major trade and economic trends of U.S. and China conflicts from the perspectives of International Relations' theories. USA and China are major world powers in terms of politics, economics, and military. Because of their economies’ scale and importance in global trade,...

This study investigates the impact of the current US–China trade war on resource allocation using monthly panel data relating to the transfer of local governmentcontrolled land. The results show that the trade war changed local governments’development strategy. As the trade war expanded,...

In this paper, we investigate the effect of the U.S.--China trade war on stock markets from a financial contagion perspective, based on high-frequency financial data. Specifically, to account for risk contagion between the U.S. and China stock markets, we develop a novel jump-diffusion process....

We develop a new method of quantifying the impact of policy announcements on investment rates that makes use of stock market data. By estimating the effect of U.S.-China tariff announcements on aggregate returns and the differential returns of firms exposed to China, we identify their effect on...

The past few years have seen not only a trade war between China and the United States involving tariffs on close to $750 billion worth of goods, but also multiple complaints filed by both countries before the WTO Dispute Settlement Body. A key driver behind these ongoing tensions and conflicts...

For most of the post WWII period, until recently, trade protectionism followed a downward trend, and was formulated in multilateral or bilateral agreements between countries. Recently however, there hasbeen a sharp shift towards unilateral, discretionary trade policy focused on short term...

This paper uses novel barcode-level country of origin data to study the incidence of the US-China trade war in 2018-2019. I find that the incidence of these policies initially fell entirely to US consumers, which is in line with previous research. However in the medium to long-run I find that...

This study investigates the effect of trade tariff shock on corporate social responsibility (CSR). Firms increase CSR activities in response to the 2018–2019 shock of the US–China trade war. Results are robust when using alternative control groups and excluding firms that experienced changes...

In recent years, we have witnessed rising trade protectionism with broad ranges of tariffs imposed on intermediate products. In this article, we develop an accounting framework to evaluate the sectoral impacts of the current U.S.-China trade war. We find that U.S. final demand and intermediate...

Globalization is compromised following international trade wars, including tariffs and supply-chain disruptions. Do firms that import from China invest more or less? Surprisingly, I find no difference in the shipments, orders, expected return or investment of firms that work with domestic...

Trade sanctions are a common instrument of diplomatic retaliation. To guide current and future policy, we ask: What is the most cost-efficient way to impose trade sanctions against Russia? To answer this question, we build a quantitative model of international trade with input-output...