Disentangling the Effects of the 2018 – 2019 Tariffs on a Globally Connected US Manufacturing Sector
By Aaron Flaaen and Justin Pierce
Federal Reserve Board of Governors
A webinar by the International Trade Club of Chicago
Thursday, June 11, 2020
11:55 am CT registrant log in and system test
12:00 pm CT webinar begins
12:00 pm CT – 12:05 pm CT welcome, housekeeping and introduction
1:00 pm CT webinar ends
Since the beginning 2018, the United States has undertaken unprecedented tariff increases in order to boost the manufacturing sector among several policy goals. Federal Reserve System economists Flaaen and Pierce estimate the effect of the tariffs, including retaliatory tariffs by US trading partners, on manufacturing employment, output and producer prices.
A key feature of their analysis is accounting for the multiple ways that tariffs might affect the manufacturing sector, including providing protection for domestic industries, raising costs for imported imports, and harming competitiveness in overseas markets due to retaliatory tariffs. Their analysis finds that US manufacturing industries more exposed to tariff increases experience relative reductions in employment because the positive effect from import protection is offset by larger negative effects from rising input costs and retaliatory tariffs. Higher tariffs are also associated with relative increases in producer prices via rising input costs.
Join the International Trade Club of Chicago for this provocative and non-technical presentation as Aaron Flaaen and Justin Pierce sort out the competing claims of the benefits and costs of tariffs and their effects on economic growth, global supply chains and industrial revitalization in the post-pandemic global economy.
Aaron Flaaen is a senior economist at the Federal Reserve Board of Governors and an adjunct professor at Georgetown University. His research interests lie at the intersection of international trade and macroeconomics, with a particular focus on the causes and consequences of multinational firms. His PhD in economics is from the University of Michigan.
Justin Pierce is a principal economist at the Federal Reserve Board of Governors. His research focuses on the implications of changes in international trade policy for individuals, firms, and regions. His PhD in economics is from Georgetown University.
$35 ITCC members
$50 non members
$35 with discount code for members of partner organizations: OWIT, CCBFA, CSCMP, APICS, GMA, ACG, CITCA, and TMA
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Space limited – register early as only 100 attendees are permitted. No refunds after 10 June.
Welcome and introductions by:
- Angelo Passalacqua, CEO, Burg Translations
- Steven Kase, Founder, CEO Emeritus ASK Power / SICAME
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Webinar made possible by Burg Translations.