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51: Trade at the White House in Not So Normal Times

Soumaya Keynes and Chad Bown have a conversation with Jason Furman (PIIE, Harvard Kennedy School)—a former senior economic adviser of the Obama administration—about American economic policy. They ask Furman about economic and trade policy during the Great Recession, supporting displaced workers, US trade policy toward China, the Trans-Pacific Partnership, and President Trump's approach.


50: Aluminum Made in the USA

Soumaya Keynes and Chad Bown explore the aluminum industry: how to make it, changes in North American production over the past few decades, and the industry's real complaints. They discuss the Trump administration's tariffs on imported aluminum with Heidi Brock of the American Aluminum Association, and Delphine Dahan-Kocher of Constellium.


49: Are Trump's Steel Quotas Worse than His Steel Tariffs?

Soumaya Keynes and Chad Bown describe how the Trump administration's quotas imposed on steel imports from South Korea, Brazil, and Argentina are different from the simple application of tariffs. They speak with Ambassador Jennifer Hillman—former administrator of US quotas for textiles and apparel in the 1990s—and Aaron Padilla (American Petroleum Institute) to explain the structure of Trump's quotas, the perverse economic incentives and unintended consequences they create, and the new...


48: Trump Buys the Farmers

Keynes and Bown explain the US government decision to offer up to $12 billion of subsidies to farmers adversely affected by trade retaliation stemming from President Trump's tariffs on steel, aluminum, and China. They speak with Joe Glauber (IFPRI, former USDA) about US farm subsidies past and present, including the Commodity Credit Corporation Charter Act, as well as America's legal commitments under the WTO to limit agricultural payouts.


47: WTO S.O.S.--Save our System

Keynes and Bown detail an emerging approach for the European Union, Japan, China—and the Trump administration—to resolve the conflict over subsidies, one of the most pressing challenges confronting the World Trade Organization. They explain the fight over industrial subsidies and analyze the EU-Japan-US approach to tackling problems of notifications, state-owned enterprises, excess capacity, and public bodies.


46: How Do Trump's Tariffs Stack Up Historically?

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown compare President Donald Trump's tariffs imposed to date—on solar panels, washing machines, steel, aluminum, and Chinese imports—with other major American protectionist episodes. They speak to economic historian Douglas A. Irwin (PIIE) about the Reagan administration's protectionism in the 1980s, the 1971 Nixon shock, the 1960s US-Europe chicken war, and the 1930 Smoot-Hawley tariff.


45: Zeroing: The Biggest WTO Threat You've Never Heard Of

Soumaya Keynes (The Economist) and Chad P. Bown (PIIE) explain the outsized importance of "zeroing"—a technical, yet politically controversial method the United States uses to calculate antidumping tariffs. They speak to Thomas Prusa (Rutgers University) about zeroing's contentious negotiating history, how it works in practice, who is in favor of it, and how much trade is affected by it. They also discuss how the dozens of WTO disputes the United States has lost over this issue set up the...


44: Brexit Two Years On

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown explain recent developments in the UK-EU trade talks on Britain's departure from the European Union. At the two-year mark after the June 23, 2016 Leave referendum, they speak to Anand Menon (King's College London) and Allie Renison (Institute of Directors) about progress in agreeing to a trade deal, outstanding issues, and lingering uncertainty facing UK businesses.


43: Costing Trump's China Tariffs

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown explain some implications of President Trump's plan to impose tariffs on US imports from China starting July 6, 2018, which could escalate to cover $450 billion of American imports. They speak to Mary E. Lovely (PIIE) and Simon Rabinovitch (The Economist) about which companies will be affected and how China might retaliate beyond tit-for-tat tariffs.


42: Trump and Tariff Tweets: It's More Complicated Than That

Chad P. Bown (PIIE) and Soumaya Keynes (The Economist) explain the nonreciprocal pattern of tariffs—and nontariff barriers—across countries highlighted by President Trump's tweets and statements about high levels of tariff protection received by Canadian dairy farmers, automakers in Europe and China, and more.


41: Trump and China's "War of Saliva"

Chad P. Bown (PIIE) and Soumaya Keynes (The Economist) update developments in the Trump administration's on-again, off-again trade war, and trade negotiations with China. They also speak to a number of people in Beijing to better understand the Chinese views.


39: Car Crash--Trump Sees More National Security Threats

Soumaya Keynes (The Economist) and Chad P. Bown (PIIE) talk with Kristin Dziczek (Center for Automotive Research) about President Trump's new investigation into whether imports of autos threaten American national security. They discuss the implications of potential new tariffs for the NAFTA negotiations, as well as trade relations with the European Union and China.


38: ZTE, Trump, and China--What's the Fuss?

Soumaya Keynes (The Economist) and Chad P. Bown (PIIE) discuss with Yuan Yang of the Financial Times how the US Commerce Department decision to sanction Chinese telecommunications giant ZTE—and its potential reversal by President Trump—affects the firm's supply chain and Chinese and American jobs. They also discuss its impact on US-China trade negotiations and Beijing's "Made in China 2025" industrial policy.


37: Cottoning on to Trade

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown talk with Professor Claudia Steinwender (Massachusetts Institute of Technology) about her research on the impact of the trans-Atlantic telegraph on trade. New information through the telegraph affected 1860s cotton price differences between New York and Liverpool, export volumes, and volatility. Claudia then describes how the telegraph affected trade differently at distinct points of the cotton textile supply chain,...


36: The Railroads Episode: America, India, and Intranational Trade

Soumaya Keynes of the Economist and PIIE Senior Fellow Chad P. Bown discuss with Dave Donaldson (Massachusetts Institute of Technology) his research on how massive railroad projects—across America in the late 1800s and colonial India in the early 1900s—affected trade costs, market access, intranational trade, and economic development. Professor Donaldson received the Johns Bates Clark Medal in 2017.


35: The Labor of NAFTA

PIIE Senior Fellow Chad P. Bown and Soumaya Keynes of The Economist explain controversial elements of the ongoing NAFTA negotiations that relate to jobs, wages, and workers. There are tradeoffs in the new proposals for automobile rules of origin, the enforcement of labor standards given a recent US trade dispute with Guatemala, and the Trump administration's potential new approach to investor-state dispute settlement. They also explain Trade Promotion Authority and the US congressional...


34: So You Want To Be a Trade Negotiator

PIIE Senior Fellow Chad P. Bown and Soumaya Keynes of the Economist sit down with former acting deputy US Trade Representative Wendy Cutler to learn how to negotiate trade agreements. Wendy shares 25 years of experience balancing domestic politics, while driving hard bargains with Japan and South Korea over issues like auto rules of origin and cow teeth. They discuss ongoing NAFTA negotiations and the right way to do trade policy with Japan.


33: Trade and Investment Talks: China Wants America's Technology

Soumaya Keynes of the Economist and PIIE Senior Fellow Chad P. Bown explain the Chinese economic development strategy at the core of the Trump administration's Section 301 dispute and latest tariff threats. They discuss Beijing's "Made in China 2025" industrial policy, how technology gets transferred, and the tradeoffs American companies face when doing business in China.


32: Trump, China, and Tariffs: $3 billion, $50 billion, or $100 billion?

Soumaya Keynes of the Economist and PIIE Senior Fellow Chad P. Bown discuss the escalating tariff fight between President Trump and China. They update the status of Trump's "national security" tariffs on steel and aluminum as well as Beijing's retaliation over $3 billion of imports. They also analyze Trump's $50 billion Section 301 tariff proposal, China's $50 billion proposed retaliatory response, before turning to Trump's subsequent $100 billion request for more tariffs....


31: Trade Wars and the Smoot-Hawley Tariff: What Really Happened?

Soumaya Keynes of The Economist and PIIE Senior Fellow Chad P. Bown speak with Douglas Irwin (PIIE and Dartmouth College) about popular misconceptions around the Smoot-Hawley Tariff Act of 1930, the Great Depression, and the global trade wars that ensued. They discuss how the gold standard, tariffs, quotas, exchange controls, imperial preferences, and bartering all fit into the dismantling of the international trading system in the 1930s. They then put President Trump's trade policy...