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국회도서관 홈으로 정보검색 소장정보 검색

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동의어 포함

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Title page 1

Contents 1

ABSTRACT 1

1. INTRODUCTION 2

2. THE POLITICAL ECONOMY OF TARIFFS: THEORY AND EVIDENCE 2

2.1. THEORETICAL INSIGHTS: WHY TARIFFS APPEAL, AND WHY THEY BACKFIRE 2

2.2. EVIDENCE FROM EXPERIENCE: THE 2018 TRADE WAR AND HISTORICAL LESSONS 3

2.3. IMPLICATIONS FOR CURRENT POLICY 3

3. US PROTECTIONISM 4

3.1. HISTORICAL CONTEXT 4

3.2. THE 2018 PRECEDENT 4

3.3. THE 2025 ESCALATION 5

4. TRADE IMPACTS: EVIDENCE AND PROJECTIONS 5

4.1. TRADE FLOW EFFECTS AND MARKET ADAPTATIONS 5

4.2. MODELLING THE ESCALATION 6

4.3. UK IMPLICATIONS: NAVIGATING BETWEEN GIANTS 7

5. CONCLUSION AND POLICY IMPLICATIONS 9

APPENDIX 10

REFERENCES 12

Tables 5

Table 1. Stockpiling and safe-haven responses to tariff announcements 5

Table 2. Long-run impact of 7 August 2025 US tariffs (Percentage changes from baseline) 6

Figures 4

Figure 1. Evolution of US trade policy and average tariff levels 4

Figure 2. Effect of US bilateral trade 8

Figure 3. Effect of UK bilateral trade 8

Appendix Tables 10

Appendix Table 1. US tariff escalation, 2025 10

Appendix Table 2. Simulation scenario changes in tariffs. Percentage points 11

Appendix Figures 10

Appendix Figure 1. US goods trade with the world (January 2024-June 2025) 10

Appendix Figure 2. US top trading partners (January-June 2024 vs. January-June 2025) 11