28.02.2018 - Studies

Protectionism returns to US policy agenda


US protectionism is back. Selective trade barriers would hurt employment in the affected industries, but there would be no damage at the macro level and on the stock markets.

After a reasonably good first year in office, ultimately crowned by the success of the tax reform, Donald Trump has resumed the trade policy agenda with the aim of protecting the US workforce from the "carnage" of "bad trade deals". With its decision on January 25, 2018, safeguard tariffs of 30 percent are to be imposed on US solar cell imports and 20 to 50 percent on imports of washing machines. However, the US trade agenda is not yet exhausted here.

Download study as PDF (reading time ca. 10 min)

Legal notice

The information contained and opinions expressed in this document reflect the views of the author at the time of publication and are subject to change without prior notice. Forward-looking statements reflect the judgement and future expectations of the author. The opinions and expectations found in this document may differ from estimations found in other documents of Flossbach von Storch AG. The above information is provided for informational purposes only and without any obligation, whether contractual or otherwise. This document does not constitute an offer to sell, purchase or subscribe to securities or other assets. The information and estimates contained herein do not constitute investment advice or any other form of recommendation. All information has been compiled with care. However, no guarantee is given as to the accuracy and completeness of information and no liability is accepted. Past performance is not a reliable indicator of future performance. All authorial rights and other rights, titles and claims (including copyrights, brands, patents, intellectual property rights and other rights) to, for and from all the information in this publication are subject, without restriction, to the applicable provisions and property rights of the registered owners. You do not acquire any rights to the contents. Copyright for contents created and published by Flossbach von Storch AG remains solely with Flossbach von Storch AG. Such content may not be reproduced or used in full or in part without the written approval of Flossbach von Storch AG.

Reprinting or making the content publicly available – in particular by including it in third-party websites – together with reproduction on data storage devices of any kind requires the prior written consent of Flossbach von Storch AG.

© 2019 Flossbach von Storch. All rights reserved.