TRUMP'S PROTECTIONISM AND ITS IMPACT ON THE INTERNATIONAL ECONOMY

Biljana Poj

doi:10.7251/ZREFIS2123055P

Authors

Biljana Poj Centre of European Initiatives, Banja Luka, Bosnia and Herzegovina Author

DOI:

https://doi.org/10.7251/ZREFIS2123055P

Keywords:

protectionism, Smoot–Hawley Tariff Act, voluntary restriction of export, correlation coefficients, regression models

Abstract

This article investigates to what extent Trump's protectionism influences the American steel industry and trade relationship with China. The investigation first looks at historical events, with the insight into one of the most controversial laws in the United States foreign trade policy - The Smoot–Hawley Tariff Act - which exacerbated the Great Depression on the global scale. Further analysed are current American actions in a foreign trade relationship, with a particular reference to the relationship between the United States and China. This paper analyses the influence of the United States protectionist politics on production, imports, exports and employment rate in the United States steel industry.

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