Abstract
International economic integration has brought high growth to international trade while promoting economic development for many countries around the world. However, in recent times, in the world, there has appeared a trend opposite to trade liberalization, which is protectionism. Advocates for trade protection provide arguments for why countries implement trade-restrictive measures. Those causes are related to national security and defense, solving the trade deficit, creating jobs, protecting the nascent industry and ensuring fair trade. Countries are currently using tariff measures including import and export tariffs, and non-tariff measures. The article studies protectionism, analyzes the impact of trade protectionism by tariffs on Vietnam’s GDP and exports, and makes policy recommendations for the Government of Vietnam.
Highlights
Trade protection is the deliberate attempt to limit imports or promote exports by putting up barriers to trade
Recommendations The context of trade protectionism is returning after the Covid-19 pandemic, the US-China trade war and the trend of increasing the application of non-tariff barriers, posing many potential risks to Vietnam’s exports, especially especially in important markets such as the US, EU, Japan, and China
Some policy recommendations for Vietnam to mitigate the negative effects of trade protectionism by tariffs include: Firstly, make better use of tariff preferences in newly signed FTAs
Summary
Research in Economics and Management ISSN 2470-4407 (Print) ISSN 2470-4393 (Online). Impacts of Trade Protection by Tariffs on Agricultural Imports and Exports by Using GTAP Model: A Case Study in Vietnam. Received: September 1, 2021 Accepted: September 27, 2021 Online Published: October 21, 2021 doi:10.22158/rem.v6n4p1
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