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The implications of US-China trade tensions for the euro area – lessons from the tariffs imposed by the first Trump Administration

Author

Listed:
  • Gunnella, Vanessa
  • Stamato, Giovanni
  • Kobayashi, Alicja

Abstract

This box examines the effects of the tariffs imposed by the first Trump Administration in 2018. It shows that there was a significant decline in Chinese exports to the United States. Despite the potential for increased competitiveness, the euro area did not increase its market share in the United States. Chinese exports found alternative destinations, including South and South-East Asia and the euro area. The analysis highlights the potential channels through which US tariffs on Chinese goods could affect the euro area. JEL Classification: F13, F14

Suggested Citation

  • Gunnella, Vanessa & Stamato, Giovanni & Kobayashi, Alicja, 2025. "The implications of US-China trade tensions for the euro area – lessons from the tariffs imposed by the first Trump Administration," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2025:0003:2
    Note: 2700331
    as

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    More about this item

    Keywords

    Euro area trade; Trade diversion; US-China trade tensions;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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