Publication Date

12-2018

Series Number

18-WP 587

Abstract

The year 2018 witnessed the largest trade war in decades. In March, the United States increased tariffs on aluminum and steel by 10% and 15% respectively. Canada, China, the European Union (EU), India, Mexico, and Turkey each retaliated with proportional tariff increases on U.S. goods. In the meantime, the trade disputes between the United States and China quickly escalated to a scale without precedent.

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