International Economic Law Project Report topic: us&china trade war
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International Economic Law Project Report TOPIC: US&CHINA TRADE WAR
WHAT A TRADE WAR MEANS? A trade war is an economic conflict between countries. This results in both countries imposing trade protectionist policies against one another in the form of trade barriers. These barriers can be imposed in a number of different ways, including but not limited to tariffs, import quotas, domestic subsidies, currency devaluation, and embargos. As each country imposes a trade barrier, the other country will retaliate with another policy. This creates the “warring” concept. Trade wars often start when a country’s government believes that another country is engaging in unfair trading practices that are hurting the first country’s markets. In an attempt to protect their domestic industry or create jobs they may impose a trade barrier, such as a tariff on a key product imported from the other country. The other country may retaliate and this tit-for-tat battle will escalate into a trade war. BACKGROUND OF CHINA-US TRADE CONFLICT US President Donald Trump promised during his 2016 presidential campaign to reduce the large trade deficit with China, which he claimed was based in large part on unfair Chinese trading practices, including intellectual property theft, forced technology transfer, lack of market access for American companies in China and an unlevel playing field caused by Beijing’s subsidies for favored Chinese companies. China, meanwhile, believes the US is trying to restrict its rise as a global economic power. Download 43.82 Kb. Do'stlaringiz bilan baham: 
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