Answers

  • Nisha Malhotra
    Nisha Malhotra

    Nisha Malhotra

    • Canada
    • Economics
    • University of British Columbia
    • 0 followers

    Nisha Malhotra replied 4th May '18:

    If favourable outcome means USA is able to impose higher tariffs on steel and other politically charged industries then a retaliation by the other WTO members would be disastrous for the US economy. Global Economy might come out unscathed - with no repercussions for other WTO members.
    Under the PTA's US has signed - there are repercussions for a member to break the agreements. However, if the other member countries accept US's demands and rewrite old agreements like the NAFTA, this will set a precedent for others to do the same within their PTAs. A loss for the Global economy
    You see a trade policy has to be made within the bilateral and multilateral agreements that have ben signed earlier.

Comments

Reset my details