We use the 2018-2019 U.S. trade war to examine how supply chains adjustments to a tariff cost shock affect imports and exports. Using confidential firm-trade linked data, we show that the decline in imports of tariffed goods was driven by discontinuations of U.S. buyer-foreign supplier...

The escalation of broad export controls by the US, under the guise of national security and the aim to curb technological transfers to potential adversaries,1 marks a new epoch of bureaucratic oversight. The US push for broad export controls also underscores a critical juncture in US-EU...