According to the OECD Economic Outlook released 30 May, if we reduced tariffs to the lowest level applied in G20 countries, costs would go down by 2% and global trade would rise by more than 3%. And China would not only experience the largest rise in trade, but its imports would outstrip exports. That would be good news for exporters elsewhere, and jobs too.

Reference

OECD (2018), OECD Economic Outlook, Volume 2018 Issue 1: Preliminary version, OECD Publishing, Paris, http://dx.doi.org/10.1787/eco_outlook-v2018-1-en.

©OECD Observer June 2018