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Tariffs and Threats: President Trump’s Trade Policy and Its Consequences to Finland

Author

Listed:
  • Nilsson Hakkala, Katariina
  • Wang, Maria
  • Kuusi, Tero

Abstract

This Brief analyzes president Trump’s trade policy and its implications for Finland. We focus on the import tariffs imposed by the Trump administration and the counter tariffs imposed by EU and China and evaluate their effects through international value-added chains on Finland. The findings suggest that the overall impact of the new tariffs is small. The largest employment reductions in Finland are caused by the tariffs on EU exports to the US. Furthermore, we argue that the unpredictability of president Trump’s policies and the threat of a trade war has a significant effect on global market stability. The WTO has also been facing a crisis due to the actions of Trump’s administration. Our analysis emphasizes the importance of a stable and predictable trade system, which president Trump has been undermining.

Suggested Citation

  • Nilsson Hakkala, Katariina & Wang, Maria & Kuusi, Tero, 2018. "Tariffs and Threats: President Trump’s Trade Policy and Its Consequences to Finland," ETLA Brief 73, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:briefs:73
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    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Muistio-Brief-73.pdf
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    Cited by:

    1. Jyrki Ali-Yrkkö & Tero Kuusi, 2020. "Shield the US from Imports! – GDP impacts on Finland and other European Union member states," Finnish Economic Papers, Finnish Economic Association, vol. 29(1), pages 52-80, Spring.

    More about this item

    Keywords

    Trade policy; Tariffs; Value-added chains; Employment;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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    This paper has been announced in the following NEP Reports:

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