Thurs., June 5, 2025: AGI Seminar “When Do Prohibitive Tariffs Turn into Bullets and Bombs? The Economic Idiocy behind Terrorization of Asia by the USA and China” (in-person)

We invite researchers who are engaged in research on Asia and hold AGI Seminars. Your participation is more than welcome!

*This seminar is free of charge and will be held online.

*Please refer to the following for details.

Date and Time

Thursday, June 5, 2025 from 2:00 pm to 4:00 pm
*A question-and-answer session is scheduled at the end of the presentation.

Presenter

Dr. Eric D. Ramstetter, Visiting Professor, Asian Growth Research Institute; and Visiting Professor, Thammasat University, Thailand

Title

When Do Prohibitive Tariffs Turn into Bullets and Bombs? The Economic Idiocy behind Terrorization of Asia by the USA and China

Abstract

This essay in political economy will seek to clarify many important points about the dramatic increase in U.S. protectionism in early 2025 and China’s extreme, protectionist response from the viewpoint of other Asian economies that depend heavily on both of these economic partners. The central thesis is that prohibitive tariffs on bilateral trade that were announced by both countries in early April 2025 are not sustainable because of the large economic costs they impose. Like the Japanese response to U.S. protectionism in the 1930s, a violent response from China seems increasingly likely, probably much sooner than many observers seem to expect. Chinese military belligerence toward Taiwan and ASEAN seriously aggravates the situation. The other side of the coin is that there are huge benefits for both China and the USA, and the rest of Asia, if a peaceful climb-down to lower protection can be negotiated. Presently (on 11 April 2025), the probability of a beneficial reduction in protection seems very low because leaders in China and the USA believe in economic idiocy, creating immense danger for all Asian economies.

1. The Problem
2. History and Facts
2a. U.S. Instigation of the Current Crisis under Trump2
2b. The Legacy of U.S. Protectionism in Asia
2c. The Legacy of Chinese Protectionism
2d. Chinese Territorial Belligerence Toward Taiwan and ASEAN
3. The Persuasive Economic Case for Lower Protection Everywhere
3a. Benefits for the USA
3b. Benefits for China
3c. Benefits for All Importers
4. Conclusion: How can anyone be so stupid to believe tariffs help importers in 2025?

Language

English presentation and material(s)

Presenter Biography

Prof. Eric D. Ramstetter is Lecturer, Faculty of Economics, Thammast University, Bangkok and Professor Emeritus/Visiting Professor at the Asian Growth Research Institute (AGI), Kitakyushu. Previously, he worked over 20 years in AGI and for over 9 years in Kansai University. His research and teaching focuses mainly on international economics, particularly multinational enterprises, economic development, and industrial organization.

To Participate

1. Online Registration
https://forms.gle/AAaSMwMeCeJgb9np6

2. E-mail Registration
Please send us an e-mail at office@agi.or.jp with your name, affiliation and phone number.

We will send you a Zoom link for participation via e-mail by the day before the seminar.

Registration Deadline

Wednesday, June 4 at 12:00 pm

How to Join Us Online

date：2025.05.14
Category：Seminars