The 2018 Trade War: Data and Nascent General Equilibrium Analysis
Minghao Li, Edward J. Balistreri, Wendong Zhang
December 2018 [18-WP 587]
Li, M., E.J. Balistreri, and W. Zhang. 2018. "The 2018 Trade War: Data and Nascent General Equilibrium Analysis." Working paper 18-WP 587. Center for Agricultural and Rural Development, Iowa State University.
This study introduces a database of 2018 tariff increases resulting from the recent trade war and quantifies the impacts using the canonical GTAPinGAMS model calibrated to GTAP version 9 accounts. We report relatively modest economy-wide welfare impacts in this perfect-competition Armington model, with substantial impacts on the pattern of trade and output in important sectors.
JEL codes: F11, F12, F17