Reshaping institutional arrangements for the trade policies of the US and their implications for the Asian region

Kim, Jungsuk, Pyo, In Soo, and Wood, Jacob (2018) Reshaping institutional arrangements for the trade policies of the US and their implications for the Asian region. Journal of International Logistics and Trade, 16 (3). pp. 109-119.

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Abstract

This study analyzes the policy initiatives that have been adopted by the US government since the 1930s. We document the institutional bodies responsible for the implementation of trade policy, as well as the objectives and decision making practices that are associated with policy formation. We also examine the new institutional movement of the Trump Administration's neo-protectionist "America First" trade policy and its potential impact on the Asian region. Finally, our study examines the recent renegotiation of Korea-US FTA from a perspective of each country’s internal decision making process and discusses a number of issues that have relevant applications for Korea. The results from our analysis show that U.S trade policy show that despite a long period of an open and liberalized trade policy focus, recent neo-protectionist measures by President Trump could lead to potential trade wars and a return to the beggar-thy-neighbor policies of the 1930s. Such an anti-globalization agenda could have dire consequences for export dependent countries in the Asian region.

Item ID: 56857
Item Type: Article (Research - C1)
ISSN: 1738-2122
Keywords: US trade policy, international trade, Korea-US FTA, TAA, America first
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Open Access Via Publisher. Also available via Korean Citation Index.

Date Deposited: 17 Jan 2019 23:47
FoR Codes: 14 ECONOMICS > 1402 Applied Economics > 140203 Economic History @ 50%
18 LAW AND LEGAL STUDIES > 1801 Law > 180117 International Trade Law @ 50%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9103 International Trade > 910301 International Agreements on Trade @ 25%
91 ECONOMIC FRAMEWORK > 9103 International Trade > 910303 Trade Policy @ 50%
91 ECONOMIC FRAMEWORK > 9103 International Trade > 910302 Trade Assistance and Protection @ 25%
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