Safeguarding Tariffs on Washing Machines Could Trigger Turbulence in Global Trade Policies

摘要

Imposing higher tariffs on washing machines may not necessarily achieve the Trump Administration's desired objectives. However, it could be a precursor for other protectionist trade policies, expected in 2018 and beyond. Such safeguarding actions could dent the expected positive growth of the U.S. home appliance market and adversely impact the economy and domestic employment in the long term. They could also lead to the adoption of similar trade practices by other countries, which could trigger turbulence in the way free global trade is conducted. For example, foreign governments could impose similar taxes on imports from other countries, including the U.S.