Peterson Perspectives: Interviews on Current Issues

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown discuss the evolution of the auto industry in North America. Long before the 1994 North American Free Trade Agreement (NAFTA), the 1965 Canada-US Auto Pact, Mexican maquiladora program, OPEC-induced oil shocks, voluntary export restraints on Japan, and changing consumer preferences shaped the auto industry. NAFTA led to new cross-border supply chains and geographic clusterings in the American “auto alley” as well as in Mexico, affecting hundreds of thousands of North American jobs.

Chad P. Bown cautions the Trump administration that its unconventional trade policies—such as imposing tariffs on steel and aluminum, and over intellectual property—could lead to conflict with some of the United States’ largest trading partners.

Chad P. Bown cautions the Trump administration that its unconventional trade policies—such as imposing tariffs on steel and aluminum, and over intellectual property—could lead to conflict with some of the United States’ largest trading partners.

Joseph E. Gagnon and Edwin M. Truman discuss the pros and cons of Treasury Secretary Steven Mnuchin’s comments perceived as seeking depreciation of the dollar.

Joseph E. Gagnon and Edwin M. Truman discuss the pros and cons of Treasury Secretary Steven Mnuchin’s comments perceived as seeking depreciation of the dollar.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown discuss the controversy surrounding the US washing machine market and update the solar panels case, in light of President Trump’s decision to impose safeguard tariffs under Section 201 of the Trade Act of 1974. For washers, they describe the history of US mergers in the industry; earlier US antidumping and countervailing duties imposed on South Korea, Mexico, and China; and decisions by foreign companies to invest in America.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown discuss the Generalized System of Preferences (GSP), the program rich countries use to offer lower tariffs to exporters in developing countries. They discuss a variety of programs—the now expired US GSP scheme, the African Growth and Opportunity Act (AGOA), as well as differences with the European Union’s GSP, GSP+ and Everything But Arms (EBA) policies. They speak with Emily Blanchard (Tuck School at Dartmouth College) and Kimberly Ann Elliott (Center for Global Development) about the design flaws of one-way trade preferences and research on their impact on developing countries.

Gary Clyde Hufbauer argues that the criticism of the procedure set up in trade agreements to settle disputes between multinational corporations and states in which they invest is largely unwarranted. There is room for improvements in its procedures and processes, however.

Gary Clyde Hufbauer argues that the criticism of the procedure set up in trade agreements to settle disputes between multinational corporations and states in which they invest is largely unwarranted. There is room for improvements in its procedures and processes, however.

Soumaya Keynes (The Economist) and PIIE Senior Fellow Chad P. Bown speak with Professor Meredith Crowley (University of Cambridge) about her Brexit research. Crowley describes results from her use of information on product-level UK exports and trade policies to identify the key sectoral risks of Britain exiting the European Union without a new trade deal. She also explains the uncertainty associated with UK exports to the EU facing tariff-rate quotas for agriculture, as well as trade defense instruments (anti-dumping and anti-subsidy policies) that threaten sectors like steel. They discuss the British government’s progress to date in providing sectoral analysis and the benefits to using economic models and impact assessments to identify areas of vulnerability to the British economy, including in sectors like autos.