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Did the Tariffs Work? The Trade War Five Years Later

2023/4/5

Money For the Rest of Us

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David Stein

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David Stein: 本期节目探讨了美国对钢铁、铝和中国商品征收关税五年后的影响。尽管关税导致某些行业的进口量减少，并增加了美国国内的生产，但它并没有阻止贸易逆差的扩大。事实上，2022年美国的贸易逆差达到了创纪录的水平，占GDP的比例也达到了2009年以来的最高点。关税还导致进口商品价格上涨，对低收入消费者影响最大。与此同时，中国快时尚公司Shein和Temu的崛起，通过直接面向消费者销售商品，以极低的价格冲击市场，进一步加剧了贸易逆差。这些公司通过各种手段降低成本，包括抄袭设计、使用可能来自新疆的棉花以及在生产过程中忽视环境和劳工问题。 David Stein认为，关税未能有效阻止贸易逆差的扩大，问题在于贸易本身的复杂性以及消费者行为的影响。他呼吁消费者更加关注商品的生产过程和环境影响，并对自己的消费行为负责，以促进更可持续和负责任的贸易模式。

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Chapters

This chapter discusses the resolution of the shipping backlog at the ports of Los Angeles and Long Beach, the record trade deficit in 2022, and the implications of a large trade deficit for a country's economy.

The ship backlog at Los Angeles and Long Beach ports ended in November 2022 after 25 months.
The US trade deficit in 2022 reached a record high of $950 billion, representing 3.7% of GDP.
A large trade deficit requires financing, which can put downward pressure on the domestic currency and lead to economic crises if not managed properly.

Shownotes Transcript

What has been the impact on trade and the trade deficit since the U.S. implemented tariffs on steel, aluminum, and goods made in China?

Topics covered include:

Has the shipping backlog been reduced at U.S. ports
What are the dangers of running too high of a trade deficit
How large is the U.S. trade deficit
What has been the impact of U.S. tariffs on trade, domestic production, and prices
How Chinese direct-to-consumer retail companies Shein and Temu are driving prices of goods ever lower
Why consumers should demand greater visibility on how products they purchase are made

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Show Notes

The ‘ship backup has ended’ at Los Angeles, Long Beach ports by Alejandra Salgado—Supply Chain Dive)

America’s Trade Deficit Surged in 2022, Nearing $1 Trillion by Ana Swanson—The New York Times)

Industry study tracks China tariffs’ added costs to importers and consumers by Ben Unglesbee—Supply Chain Dive)

Costs of Trade Wars: The Distributional Consequences of US Section 301 Tariffs Against China by Kara M. Reynolds—SSRN)

Certain Effects of Section 232 and 301 Tariffs Reduced Imports and Increased Prices and Production in Many U.S. Industries by USITC—United States International Trade Commission)

Economic Impact of Section 232 and 301 Tariffs on U.S. Industries by USITC—United States International Trade Commission)

The other Chinese apps taking the US and UK by storm by Chelsea Bailey—BBC)