Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia
We use detailed quarterly data on US energy exports to examine the impacts of the US-China trade dispute on US energy-related commodity exports. Largely due to the shale revolution, the energy-related US current account balance has been reduced to close to zero, down from accounting for about half o...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2021-11-01
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| Series: | Energy Strategy Reviews |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2211467X21001267 |
| _version_ | 1828957827372154880 |
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| author | Kenneth B. Medlock III Ted Temzelides Woongtae Chung |
| author_facet | Kenneth B. Medlock III Ted Temzelides Woongtae Chung |
| author_sort | Kenneth B. Medlock III |
| collection | DOAJ |
| description | We use detailed quarterly data on US energy exports to examine the impacts of the US-China trade dispute on US energy-related commodity exports. Largely due to the shale revolution, the energy-related US current account balance has been reduced to close to zero, down from accounting for about half of the trade deficit in 2008. This is despite evidence that tariffs on imported energy-related commodities, such as solar panels, did not appear to negatively impact US imports. We estimate a regression of non-energy net exports dependent on gross domestic product, the exchange rate, and past non-energy trade deficit. We argue that the trade war led to a number of distortions that reshaped the US balance of trade in energy-related commodities. The risks of a protracted US-China trade war include slower economic growth, which is compounded by the risks associated with the aftermath of COVID-19. |
| first_indexed | 2024-12-14T08:36:11Z |
| format | Article |
| id | doaj.art-165edf921b8a4de3835d16b8bd2b6037 |
| institution | Directory Open Access Journal |
| issn | 2211-467X |
| language | English |
| last_indexed | 2024-12-14T08:36:11Z |
| publishDate | 2021-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Strategy Reviews |
| spelling | doaj.art-165edf921b8a4de3835d16b8bd2b60372022-12-21T23:09:24ZengElsevierEnergy Strategy Reviews2211-467X2021-11-0138100741Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast AsiaKenneth B. Medlock III0Ted Temzelides1Woongtae Chung2Center for Energy Studies, Baker Institute, Rice University, USACenter for Energy Studies, Baker Institute, Economics Department, Rice University, USA; Corresponding author.Center for International Energy Cooperation, Korea Energy Economics Institute, South KoreaWe use detailed quarterly data on US energy exports to examine the impacts of the US-China trade dispute on US energy-related commodity exports. Largely due to the shale revolution, the energy-related US current account balance has been reduced to close to zero, down from accounting for about half of the trade deficit in 2008. This is despite evidence that tariffs on imported energy-related commodities, such as solar panels, did not appear to negatively impact US imports. We estimate a regression of non-energy net exports dependent on gross domestic product, the exchange rate, and past non-energy trade deficit. We argue that the trade war led to a number of distortions that reshaped the US balance of trade in energy-related commodities. The risks of a protracted US-China trade war include slower economic growth, which is compounded by the risks associated with the aftermath of COVID-19.http://www.sciencedirect.com/science/article/pii/S2211467X21001267Q4Q48 |
| spellingShingle | Kenneth B. Medlock III Ted Temzelides Woongtae Chung Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia Energy Strategy Reviews Q4 Q48 |
| title | Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia |
| title_full | Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia |
| title_fullStr | Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia |
| title_full_unstemmed | Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia |
| title_short | Mercantilism's Groundhog day: The US-China trade war and US energy exports to Northeast Asia |
| title_sort | mercantilism s groundhog day the us china trade war and us energy exports to northeast asia |
| topic | Q4 Q48 |
| url | http://www.sciencedirect.com/science/article/pii/S2211467X21001267 |
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