International Economic Law Project Report topic: us&china trade war
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EFFECTS
Stock market Investor uncertainty due to the trade war has caused turbulence in the stock market. The Dow Jones Industrial Average fell 724 points, or 2.9%, after the tariffs were announced due to concerns over a trade war. Corporations that traded with China, such as Caterpillar Inc. and Boeing, suffered large losses in their stock price On December 4, 2018, the Dow Jones Industrial Average logged its worst day in nearly a month as it declined nearly 600 points, to which some argue is in part due to the trade war. On December 26, the Dow Jones recorded a rise of 1000 points after, according to Reuters, the publication of a report that documented strong holiday sales, although the major indexes were still down more than 10% through the month of December 2018 amid the trade war. On August 14, 2019, the Dow dropped 800 points, partly caused by increasing trade tensions between the U.S. and China. Nine days later, on August 23, the Dow dropped 623 points on the day that Trump informally ordered American companies to immediately seek alternatives to doing business in China. By the end of 2019, stock markets reached record highs, having risen due to the agreement between the United States and China to sign the first phase of a trade deal. Domestic politics Analysts speculated that the trade war could affect the 2020 United States presidential election, as tariffs have negatively affected farmers, an important constituency for Trump. Analysts also speculated on how the trade war affected Xi Jinping in relation to the domestic pressures that he faced Globally The trade war has hurt the European economy, particularly Germany, even though trade relations between Germany and China and between Germany and the U.S. remain good. Germany and the EU have had high levels of trade with China, and the German government and public want to maintain these trade ties. The Canadian economy has seen negative effects as well. Like the U.S., Britain, Germany, Japan, and South Korea were all showing "a weak manufacturing performance" as of 2019. Some countries have benefited economically from the trade war, at least in some sectors, due to increasing exports to the United States and China to fill the gaps left by decreasing trade between these two economies. Beneficiaries include Vietnam, Chile, Malaysia, and Argentina. Download 43.82 Kb. Do'stlaringiz bilan baham: |
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