Bank of Lithuania

Reordering international trade: what will it cost?


This paper overviews early research which has gone into the possible effects of the recent tensions in international trade. We have witnessed the increase and the promises of future increase in tariffs, in the case of the new trade policy of the US, and the promises of the future increase in the non-tariff barriers (possibly even tariffs) in the UK’s decision to leave the EU. The focus in the research is mostly on trade policy and on the results, insights, and conclusions, while the discussion on the econometric specification or estimation of the models is out of scope.

The views expressed are those of the author(s) and do not necessarily represent those of the Bank of Lithuania.

international trade, brexit, tariffs, gains from trade, protectionism, trade policy