Waikato Management School research seminar: The impact of US trade actions on employment and economic growth
|Date||Tuesday 6 August 2019|
|Time||1pm - 2pm|
|Where||MSB.1.02, Level One, Waikato Management School, Hillcrest Road, Hamilton|
|Presenter||Terrie Walmsley, Managing Director of US-based economic consulting firm ImpactECON|
Waikato Management School is pleased to host a public seminar by distinguished visitor Terrie Walmsley, managing director of US-based economic consulting firm ImpactECON, on Tuesday, 6 August at 1pm.
Terrie has undertaken numerous trade policy studies and developed global CGE models to incorporate supply chains, non-tariff measures, migration, dynamics and income inequality.
Her clients have included more than a dozen international agencies such as the World Bank, the Asian Development Bank, the International Trade Commission, the European Commission, the Ford Foundation, the Organisation for Economic Co-operation and Development (OECD), and the New Zealand Ministry of Foreign Affairs and Trade.
Prior to joining ImpactECON, Terrie was previously director of the Center for Global Trade Analysis and Associate Professor at Purdue University, Indiana.
At this seminar, she will discuss a recent report analysing the implications of current and proposed US trade actions, including aluminium and steel tariffs and tariffs on China, on the US and global economy.
The report finds that if all trade actions were implemented, the impacts on the US would be a decline in projected US GDP of 1.78% in 2019 (or $365.1 billion in 2017 dollars), with a long-term reduction of 1.25% by 2030 (or $331.8 billion in 2017 dollars). By 2030, production of the agricultural and services sectors would fall approximately 1%, while manufacturing production would fall by 2.5%.
With the implementation of each additional trade action, underlying wage growth in the economy also diminishes, increasing the probability that workers will become unemployed.
Together, current, proposed, and potential trade actions by the US and its trading partners could impact over $1 trillion in US imports and exports.
The full report is available to read at: https://impactecon.com/resources/us-trade-actions