Peterson Perspectives: Interviews on Current Issues

Soumaya Keynes (The Economist) and Chad P. Bown (PIIE) explain the outsized importance of “zeroing”—a technical, yet politically controversial method the United States uses to calculate antidumping tariffs. They speak to Thomas Prusa (Rutgers University) about zeroing’s contentious negotiating history, how it works in practice, who is in favor of it, and how much trade is affected by it. They also discuss how the dozens of WTO disputes the United States has lost over this issue set up the current showdown facing the WTO Appellate Body and the future of the trading system.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown explain recent developments in the UK-EU trade talks on Britain’s departure from the European Union. At the two-year mark after the June 23, 2016 Leave referendum, they speak to Anand Menon (King’s College London) and Allie Renison (Institute of Directors) about progress in agreeing to a trade deal, outstanding issues, and lingering uncertainty facing UK businesses.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown explain some implications of President Trump’s plan to impose tariffs on US imports from China starting July 6, 2018, which could escalate to cover $450 billion of American imports. They speak to Mary E. Lovely (PIIE) and Simon Rabinovitch (The Economist) about which companies will be affected and how China might retaliate beyond tit-for-tat tariffs.

Bown and Keynes explain the nonreciprocal pattern of tariffs—and nontariff barriers—across countries highlighted by President Trump’s tweets and statements about high levels of tariff protection received by Canadian dairy farmers, automakers in Europe and China, and more.

Chad P. Bown (PIIE) and Soumaya Keynes (The Economist) update developments in the Trump administration’s on-again, off-again trade war, and trade negotiations with China. They also speak to a number of people in Beijing to better understand the Chinese views.

Chad P. Bown (PIIE) and Soumaya Keynes (The Economist) explain the economic implications of President Trump’s decision to apply steel and aluminum trade restrictions on virtually all US trading partners as of June 1, 2018. Countries have announced their plans to retaliate against billions of dollars of US exports, to file WTO trade disputes, and to potentially impose restrictions on their own imports of steel and aluminum.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown talk with Kristin Dziczek (Center for Automotive Research) about President Trump’s new investigation into whether imports of autos threaten American national security. They discuss the implications of potential new tariffs for the NAFTA negotiations, as well as trade relations with the European Union and China.

Soumaya Keynes and Chad P. Bown discuss with Yuan Yang of the Financial Times how the US Commerce Department decision to sanction Chinese telecommunications giant ZTE—and its potential reversal by President Trump—affects the firm’s supply chain and Chinese and American jobs. They also discuss its impact on US-China trade negotiations and Beijing’s “Made in China 2025” industrial policy.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown talk with Professor Claudia Steinwender (Massachusetts Institute of Technology) about her research on the impact of the trans-Atlantic telegraph on trade. New information through the telegraph affected 1860s cotton price differences between New York and Liverpool, export volumes, and volatility. Claudia then describes how the telegraph affected trade differently at distinct points of the cotton textile supply chain, providing lessons and insight into today’s information and communications technology (ICT) revolution and use of big data.

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown discuss with Dave Donaldson (Massachusetts Institute of Technology) his research on how massive railroad projects—across America in the late 1800s and colonial India in the early 1900s—affected trade costs, market access, intranational trade, and economic development. Professor Donaldson received the Johns Bates Clark Medal in 2017.