Peter H. Chase
This Issue Brief is the result of a conference co-hosted by AICGS, the Center for International Security and Governance (CISG), and the Bonner Akademie für Forschung und Lehre Praktischer Politik …
“Risk” and “risk management” are not normally words applied to transatlantic trade. In general, observers assume trade is mutually beneficial, and that the benefits outweigh any costs. Of course, life is not so simple: even in mutually beneficial interactions, there are possible downside effects, or “risks,” where the amount of risk faced is a product of the hazard (downside effect) and the probability of that effect occurring. This essay focuses on two narrowly defined areas of government risk management in trade policy: the risks posed to consumers, the environment, and investors; and the risks posed to politicians and governments.