International Dimensions

Pages135-143
DOIhttps://doi.org/10.1108/978-1-78769-435-420181016
Publication Date06 Dec 2018
AuthorNigel Culkin,Richard Simmons
9
INTERNATIONAL DIMENSIONS
To Trump or Not to Trump that is the question we must decide
Adapted from Bruni (2015)
June 2018 saw global headlines and world stock market adjustments as
investors reacted to a prospective trade warbetween the United States
and many of its key trading partners; these included China, the European
Union, Japan, South Korea, Canada, Mexico and South America. Even
Rwanda (an impoverished African nation) is facing the wrath of the
United States because it wants to increase tariffs on the imports of second
hand clothes that have been undermining its attempts to create a domestic
textile industry.
339
Again in 2018, the United States decided to bypass
existing multilateral dispute mechanisms available at the World Trade
Organisation and impose new tariffs on its trade partners via Section 232
of the Trade Expansion Act of 1962.
340
This law allows the US President
to impose tariffs if an article is being imported into the United States in
such quantities or under such circumstances as to threaten or impair the
national security.
341
The legislation is at time of writing being used to
impose a 25% tariff on steel imports and to threaten to impose a 20%
tariff on automobiles.
342
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