US-EU trade dispute under Trump administration: characteristics, causes and prospects based on the empirical analysis of US-EU trade imbalance

DING Chun1,2,3 QIANG Haofan4 YANG Jiawei4

(1.Institute of World Economy, Fudan University)
(2.Center for European Studies, Fudan University)
(3.Center for China-EU People-to-People Exchange Studies, Fudan University)
(4.School of Economics, Fudan University)

【Abstract】Since US President Trump took office and adopted the “America First” policy, a series of frictions have taken place between the US and the EU in a variety of fields, especially in bilateral trade, the process of which is full of twists and turns and which has attracted wide-ranging attention. This paper analyzes the development of the trade dispute between the US and the EU under Trump’s administration. On the basis of an analysis on the status quo and characteristics of the bilateral trade between the US and the EU in recent years, this paper explores, with the help of methods including empirical attribution analysis, the reasons behind the transatlantic trade dispute, including economy and geopolitical politics, their disagreements in global governance ideas, external environments, and Trump’s personality. This paper as well takes steel and aluminum, aircraft, agricultural products, energy and medicine as typical cases to analyze the motivations for US sanctions against the EU, and discusses the possible trends of the trade disputes between the two sides.

【Keywords】 US-EU trade; Trump; trade imbalance; attribution analysis; “American First”;

【DOI】

【Funds】 Project of the Department of International Cooperation and Exchange of MOE

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(Translated by WEN Jianxin)

    Footnote

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This Article

ISSN:1004-9789

CN: 11-4899/C

Vol 37, No. 03, Pages 1-37+156

June 2019

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Article Outline

Abstract

  • 1 US-EU trade disputes since Trump took office
  • 2 Status quo and characteristics of the US-EU trade
  • 3 Factors contributing to US-EU trade disputes
  • 4 Prospect of US-EU trade disputes
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