On March 8, 2018, US president Donald Trump issued two proclamations to adjust US imports of aluminum and steel from all countries except Canada and Mexico, key regional allies and trade partners. President Trump asserted that a 25 percent tariff on steel “articles” and a 10 percent tariff on aluminum articles are necessary for the US to develop its domestic steel and aluminum industries and to protect and create jobs.
The US government will potentially collect $7.4 billion a year from the new tariffs, according to the definitions specified in the presidential proclamations and data from the United Nations Statistics Division.
The winners and losers among US trading partners vary based on the specific articles.
Steel articles. The top 5 exporters of steel articles to the US are Canada, the Republic of Korea, Mexico, Japan, and Brazil, however, article-by-article trade dynamics modify the impact of the tariffs.
Aluminum articles. Canada is also among the top 5 exporters of aluminum articles to the US, joined by China, Russia, the UAE, and Mexico.
The United States being the biggest economy in the world significantly influences the global economic situation. The US economy is comprehensively covered by data and statistics from multiple government and private sources. We selected the most significant and up-to-date ones and presented them in this cheat sheet.
The Syrian Civil War is the largest ongoing military conflict in the world, already claiming a total of at least 167,000 lives* since civil unrest first erupted in March 2011 on the heels of the Arab Spring. Human life is one measure of a wars devastation. Today, we examine the devastation of war from an economic perspective: international trade. The disruption in Syrian trade has already lowered its ranking globally from the 88th largest exporter in 2011 to the 141st in 2015.Syria experienced the world's second largest loss of total foreign trade from 2011 to 2015, with exports decreasing by 88 percent and imports by 72 percent. Greater...
The WTO General Council meets as the Trade Policy Review Body to undertake trade policy reviews of Members under the TPRM and to consider the Director-General's regular reports on trade policy developement. The TPRB is thus open to all WTO Members. The current chair is Ms. Irene B. K. YOUNG (Hong Kong, China). Event Holder: World Trade Organization Source of data: Merchandise trade matrix, imports and exports of total all products, annual, 1995-2014, WTO statistical data sets, 1948-2014
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size. Date: 29-31 May 2018 Event holder: World Trade Organization
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size. Date: 11-13 April 2018 Event holder: World Trade Organization