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Policy developments and potential impacts of trade tensions in Asia and the Pacific

image of Policy developments and potential impacts of trade tensions in Asia and the Pacific

The relatively dynamic global trade recovery that began in late 2016 is now threatened by trade tensions between the United States and other economies, particularly China. Increasing protectionism does not sit well with the universally accepted 2030 Agenda for Sustainable Development, in which trade is an important means of implementation and one of the 17 goals is to promote global partnership. The possible escalation of trade conflicts, as economies retaliate over each other’s protectionist measures, has become an important impediment to foreign trade and investment as engines of sustainable development, both in Asia and the Pacific and globally.

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