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Geopolitics and trade in the euro area and the United States: a de-risking of import supplies?

Author

Listed:
  • Ilkova, Ivelina
  • Lebastard, Laura
  • Serafini, Roberta

Abstract

Based on granular data at the product level, this box discusses whether and how the euro area and the United States have modified their import sourcing strategies since 2016, the role played by geopolitical tensions and the potential impact on import prices. It considers two different, but not mutually exclusive, strategies: increasing the number of sourcing countries and reducing the import market share of the main supplier country per product. Data suggest that both regions have increased, on average, the number of sourcing countries, particularly for those products mostly imported from geopolitically distant countries. Broadening the number of supplier countries has come at a cost JEL Classification: F14, F51, F62

Suggested Citation

  • Ilkova, Ivelina & Lebastard, Laura & Serafini, Roberta, 2024. "Geopolitics and trade in the euro area and the United States: a de-risking of import supplies?," Economic Bulletin Boxes, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbbox:2024:0005:1
    Note: 375045
    as

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    More about this item

    Keywords

    diversification; Fragmentation; geopolitics; rebalancing;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

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