Discussion Thread: 6.1 Free Trade versus Fair Trade Policy Debate Q & A | Online Homework Aiders

Q1: The United States has benefited greatly from a “Free Trade” policy since it was adopted in 1944. The US has pushed the policy in every corner of the world, in every international organization and in every allied nation to the point that it became known as the “Washington Consensus.” However, recently the current Trump administration has dubbed the existing free trade environment as “Unfair trade,” and has begun to push back. As part of its new “Fair Trade” policy, the Trump administration has proposed to increase US import tariffs on imported steel and aluminum to 20 percent. It has also proposed 20 percent tariffs on $1.5 Billion worth of products from China. The nation states affected by this tariff proposal immediately declared the new tariff as illegal and promised to retaliate.

Q2:Based upon what you have learned in Chapter 6 and the Instructor Notes, do you think the new 20 percent tariffs are a good way to create “Fair Trade?” Is it a sound policy? What is the likely outcome? And does such a protectionist policy make sense given the effects of similar policies by all nations during the Great Depression of the 1930’s? What position will the World Trade Organization (WTO) take during the inevitable trade dispute?

Justify your answer and give examples.

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Reference

Pease, K.S. (2019). International Organizations: Perspectives on Global Governance. New York, NY London Routledge.