The current US tariff policy has become a focal point of the global trade order, signaling a restructuring of the international economic system established after World War II. The global trade regime is shifting from multilateral cooperation to a landscape increasingly defined by economic and geopolitical competition. The US domestic law is increasingly replacing multilateral mechanisms such as the WTO as the primary legal point at issue and center of gravity influencing and shaping the global trade order. In this transitional phase of order reconstruction, East Asian enterprises should allocate resources to closely monitor geopolitical developments, the US domestic politics, legal frameworks, and ideological trends. They should also establish mechanisms for geopolitical risk management and prioritize risk management over business expansion as a core strategic principle. However, this is not entirely negative; the new research, understanding, and strategic adjustments undertaken by enterprises may lay a deeper foundation for the next wave of globalization.

Aimed at determining whether China’s active carbon emission reduction policy can respond to the threat of carbon tariff of the USA, this study proposed two kinds of carbon tax schemes for the USA and China, same carbon tax policy and a differential carbon tax policy. Four scenarios are set: the USA only charging carbon tax on domestic products; the USA charging carbon tax on domestic products and carbon tariff on imported products from China; the USA and China taking the same carbon tax policy on domestic products; the USA and China taking the differential carbon tax policy on their domestic products. Global Trade Analysis Project Energy model is applied to discuss whether China’s active measure to reduce carbon emissions can be an effective solution to the threat of carbon tariff of the USA. The research results show that China’s active measure of the same carbon tax policy as the USA is not effective to cope with carbon tariff of the USA. However, it is an effective measure to take a differential carbon tax policy. The specific policy implications of the study are discussed in conclusion.

With President Trump’s recent imposition of USD 34 billion in new tariffs on imports from China and China’s prompt retaliation, the US is now in its biggest trade war with China and other countries since the 1930s. President Trump’s policies focusing on threats, trade deficits and bilateral trade, as well as the movement away from the postwar international system, have been historical aberrations since 1945. The US trade diplomacy ought to concentrate on building coalitions and viable proposals for addressing trade issues, including those concerning the World Trade Organization rule-making and dispute resolution. This would help to ensure a rules-based trading system.

This study analyzed the impact of FTA tariff elimination on the export prices for Norwegian fresh and chilled salmon, of which Korean import has significantly increased since the Korea-EFTA FTA implementation. Korea's fresh and chilled salmon market is almost monopolized by Norway, and Korea's price level is higher than other countries, so it is highly likely that price discrimination occurs. This study theoretically explained that exporters could adjust their prices by market power when tariffs are eliminated in imperfectly competitive markets. And the empirical analysis provided evidence that the exporters have made price adjustments since the FTA took effect, and similar results were found in the relative price comparison with trade statistics and Nasdaq Salmon Index. Therefore, in order to increase consumer welfare in Korean salmon market, it is required to transform the monopolistic market structure into a competitive one.

This paper discusses enactment and enforcing processes of the Japanese renewables Feed in Tariff (FIT) Law and its amendment of 2017. Thanks to the introduction FIT in 2012, the installed capacity of renewable energy is growing rapidly. As of 2015, the renewable electricity ratio in the generated electric power amount of Japan is 14.6 percent. Meanwhile, the levy burden (surcharge) reached JPY 2.1 trillion (aprx. USD18.7 billion). Through the enactment process of the FIT Law, the upper limit of the burden initially determined by the Japanese Diet was removed. A fundamental measure could not be taken to control the installation and the burden since the law does not allow for revisions on the system based on the results of renewable installation, even if the financial burden increases rapidly. Therefore, the Japanese Diet weakened the efficiency of the FIT Law in Japan.

이 연구는 생표고버섯과 대추시장에 있어서 관세 감축효과를 분석하기 위해 수행되었다. 시뮬레이션은 기존 연구에서 추정된 수요와 공급 탄성치에 기반하고 있으며 최종적으로 무관세 조치가 이행되었을 때를 상정한 관세감축 시나리오를 이용하여 가격변화, 수요량, 공급량 변화 그리고 수입량 변화를 분석한 후 관세감축 이행에 따라 임가가 받게 될 피해액을 산출하였다. 분석결과, 대추의 경우 무관세일 때 국산 대추의 공급량은 3.03% 감소된 반면 수요량은 0.63% 증가하였고 수입량은 223.14% 증가하였다. 이에 따라 대추 생산자의 총 피해액은 27,017,632천 원으로 나타났으며 임가당 3,712천 원의 피해액이 산출되었다. 그리고 표고버섯은 국산 공급량이 0.23% 감소한 반면 수요량은 0.76% 증가하였고 수입량은 4.25% 증가하는 것으로 나타났다. 이에 따라 표고버섯 생산자들의 총 피해금액은 75,411,812천 원으로 도출되었으며 임가당 32,688천 원의 피해액이 나타났다. 이와 같은 결과를 통해 무관세 조치가 이행될 때, 임가가 받는 피해는 대추 생산자 보다는 표고버섯 생산자들이 더 큰 것으로 나타났다.

Empirical studies provide evidence that many consumers prefer a flat-rate, even though their billing rate would be lower on a pay-per-use tariff. When it comes to tariff choices, some consumers thus seem to be subject to a cognitive error, a so-called “flat-rate bias”. Based on survey data, we analyse causes and strategies to enhance the occurrence and intensity of flat-rate biases within 2 studies. The results of study 1 (n=104) point out to five important drivers of flat-rate biases, namely the taximeter, insurance, overestimation, convenience and smart-shopping effect. Within study 2 (n=416), we subsequently evaluate the effectiveness of advertisements using the identified causes for a flat-rate bias as setting levers to increase consumers' tariff-specific willingness-to-pay. Our findings show that the most effective way to enhance the return on flat-rate bias would be to enhance communication of the fact that consumers can protect themselves from fluctuations in the billing amount through a flat rate (insurance effect) and that consumers must not worry about costs when using a flat rate (taximeter effect).

Korea-US FTA amendment became effective January 1, 2019 through several trade negotiations between the two countries. These amendments did not include changes in the agricultural sector. However, given the policy direction of the Trump administration, it is difficult to be certain that the existing Korea-US FTA on the agricultural sector will remain unchanged. This study examines the potential impact of changes in the US beef import tariff rates under the Korea-US FTA, which is progressively eliminated until 2026 using a dynamic partial equilibrium model. The modelling system is simulated with 100% decreases of tariff rates over 2020~2026 period and then compared to the baseline which is developed based on the current Korea–US FTA tariff rates. According to the scenario analyses results, 100% decreases of US beef tariff rate lowered Korean beef cattle production value up to 4.23%. Looking at this change in terms of absolute value rather than percentage, the total production value over 2020~2026 is expected to decrease by 815 billion won compared to Baseline. This reduction in production value in dynamic analysis is 67 billion won higher than the comparative static analysis.