ARTICLE

US CHINA TRADE WAR IMPLICATIONS FOR THE WORLD

  1. HOME
  2. ARTICLE

02 Pages : 10-18

http://dx.doi.org/10.31703/girr.2022(V-II).02      10.31703/girr.2022(V-II).02      Published : Jun 2022

US China Trade War: Implications for the World

Abstract

    In 2018, a trade war started between USA and China. Both the countries started to apply tariffs against each other. In March 2018, the USA applied tariffs on imports from China. Then in return, China also applied tariffs on a few products. With time, this trade war between both economies raised, and its further intensification made both countries suffer through imposed tariffs. Tariff wars between the United States and China have the potential to undermine global financial stability. As the world's biggest economies, China and USA have been merchandising products and services on a worldwide scale. After these countries retaliate,the tariff war will have an impact on the global distribution chain, international trade, the economy, and equity markets. The study is a qualitative-based critical analysis of the reasons and effects of this trade war between the two economic giants. It also explicitly highlights the environmental as well as economic impacts on the world community.

    US-China Trade War, Tariff War, Economic Impacts

    (1) Muhammad Arif Khan
    Assistant Professor, Department of International Relations, Federal Urdu University of Arts Science and Technology, Karachi Sindh, Pakistan.
    (2) Shahnawaz Muhammad Khan
    Assistant Professor, Department of International Relations, Federal Urdu University of Arts Science and Technology, Karachi Sindh, Pakistan.
Fulltext PDF

References

  • Balistreri, E. J., Berger, A., & Olekseyuk, Z. (2019). Economic Impact of a Potential Investment Facilitation Agreement. https://www.gtap.agecon.purdue.edu/resources/download/9567.pdf
  • Balistreri, E. J., Böhringer, C., & Rutherford, T. F. (2018). Quantifying disruptive trade policies. CESifo Working Papers no. 7382, 1–53.
  • Bansal, N. (2020). Impact of U.S.-China trade war on India, ASEAN countries. KPMG. https://home.kpmg/in/en/blogs/home/posts/2020/01/impact-of-us-china-trade-war-on-india-asean-countries.html
  • Bollen, J., & Hugo, Rojas-Romagosa. (2018). Trade Wars: Economic Impacts of U.S. Tariff Increases and Retaliations. An International Perspective. CPB Netherlands Bureau for Economic Policy Analysis.
  • Bolt, W., Mavromatis, K., & van Wijnbergen, S. (2019). The global macroeconomics of a trade war: The EAGLE model on the US- China trade conflict. Available at SSRN 3328506.
  • Bown, C., Jung, E., & Lu, Z. (2018). Trump and China Formalize Tariffs on $260 Billion of Imports and Look Ahead to Next Phase. Peterson Institute for International Economics, https://piie.com/blogs/trade-investment-policy-watch/trump-and-china-formalize-tariffs-260-billion-imports-and-look
  • Cali, M. (2018). The impact of the US-China trade war on East Asia. CEPR Policy Portal Article.
  • Chen, A. W., Chen, J., & Dondeti, V. R. (2020). The US-China trade war: dominance of trade or technology? Applied Economics Letters, 27(11), 904-909.
  • Chengying, H., Rui, C., & Ying, L. (2021). US- China trade war and China’s stock market: an event-driven analysis. Economic Research-Ekonomska Istraživanja, 1-14.
  • Chepeliev, M., Tyner, W. E., & van der Mensbrugghe, D. (2018). How U.S. Agriculture will fare under the USMCA and retaliatory tariffs.
  • Ciuriak, D., Mengchun, O., & Jingliang, X. (2018). Trade Wars #2018: The Likely Trade and Economic Impact so Far, Ciuriak Consulting Research Report. https://papers.ssrn.com/abstract=3239712
  • Comtrade. (2018). United Nations Commodity Trade Statistics Database Statistics Division. U.N. Comtrade Database. http://comtrade.un.org
  • Elmer, K. (2019, July 21). China is United States’ top security threat, Defence official tells Aspen forum. SCMP.
  • Fajgelbaum, P., & Khandelwal, A. (2021). The economic impacts of the US-China trade war. National Bureau of Economic research. Working Paper 29315. https://www.nber.org/papers/w29315
  • Flaaen, A., Hortaçsu, A., & Tintelnot, F. (2020). The production relocation and price effects of U.S. trade policy: the case of washing machines. American Economic Review, 110(7), 2103-27.
  • Goulard, S. (2020). The impact of the US-China trade war on the European Union. Global Journal of Emerging Market Economies, 12(1), 56-68.
  • Hanemann, T., Gao, C., & Lysenko, A. (2019, January 13). Net negative: Chinese investment in the U.S. in 2018. Rhodium Group. https://rhg.com/research/chinese-investment-in-the-us-2018-recap
  • Jain, M., & Saraswat, S. (2019). US-China trade war: Chinese perspective. Manag Econ Res J, 5(2019), 10335.
  • Kapustina, L., Lipková, Ľ., Silin, Y., & Drevalev, A. (2020). US-China trade war: Causes and outcomes. In SHS Web of Conferences, 73, 01012. EDP Sciences.
  • Keeryo, Z. A., Mumtaz, J., & Lakhan, A. B. (2020). US-China Trade War and its Impact on Pakistan Exports. Global Economics Review, 3, 1-10.
  • Kumagai, S., Gokan, T., Tsubota, K., Isono, I., & Hayakawa, K. (2021). Economic impacts of the US-China trade war on the Asian Economy: An applied analysis of IDE- GSM. Journal of Asian Economic Integration, 3(2), 127-143.
  • Lu, J., Mao, X., Wang, M., Liu, Z., & Song, P. (2020). Global and national environmentalimpacts of the US-China Trade War. Environmental Science & Technology, 54(24), 16108-16118.
  • Mao, H., & Görg, H. (2020). Friends like this: The impact of the US-China trade war on global value chains. The World Economy, 43(7), 1776-1791.
  • Menon, J. (2021). The Impact of the U.S.-China Trade War on Southeast Asia Economies. GLG. https://glginsights.com/articles/the-impact-of-the-u-s-china-trade-war-on-southeast-asia-economies/
  • Nidhiprabha, B. (2019). Impacts of the US- China trade war on ASEAN: Case of Thailand. Asian Economic Papers, 18(3), 166-188.
  • Plummer, M. G. (2019). The US-China trade war and its implications for Europe. Intereconomics, 54(3), 195-196.
  • Rampton, R. (2019, June 28). Trump prepares for ‘productive’ talks with Xi on trade war. Reuters. https://www.reuters.com/article/us-g20-summit-trump-abe/trump-prepares-for-productive-talks-with-xi-ontrade-war-idUSKCN1TT00H
  • Robinson, S., & Thierfelder, K. (2019). US- China trade war: Both countries lose, world markets adjust, others gain (No. PB19-17).
  • Rynne, B. (2018). Trade wars: there are no winners. KPMG: Australia. https://home.kpmg/au/en/home/insights/2018/08/trade-wars-no-winners.html
  • Steinbock, D. (2018). US-China trade war and its global impacts. China Quarterly of International Strategic Studies, 4(04), 515- 542.
  • Wallace, C. (2019). US-China trade war hurting the global economy. https://www.forbes.com/sites/charleswallace1/2019/03/20/us-china-trade-war-hurting-the-global-economy/#407aa9d25756
  • Walmsley, T., & Minor, P. (2018). Estimated impacts of U.S. sections 232 and 301 trade actions on the U.S. and global economies: A supply chain perspective 2018-2030. ImpactEcon Report, 1-73.

Cite this article

APA

CHICAGO

    CHICAGO : Khan, Muhammad Arif, and Shahnawaz Muhammad Khan. 2022. "US China Trade War: Implications for the World." Global International Relations Review, V (II): 10-18 doi: 10.31703/girr.2022(V-II).02

HARVARD

    HARVARD : KHAN, M. A. & KHAN, S. M. 2022. US China Trade War: Implications for the World. Global International Relations Review, V, 10-18.

MHRA

    MHRA : Khan, Muhammad Arif, and Shahnawaz Muhammad Khan. 2022. "US China Trade War: Implications for the World." Global International Relations Review, V: 10-18

MLA

    MLA : Khan, Muhammad Arif, and Shahnawaz Muhammad Khan. "US China Trade War: Implications for the World." Global International Relations Review, V.II (2022): 10-18 Print.

OXFORD

    OXFORD : Khan, Muhammad Arif and Khan, Shahnawaz Muhammad (2022), "US China Trade War: Implications for the World", Global International Relations Review, V (II), 10-18

TURABIAN

    TURABIAN : Khan, Muhammad Arif, and Shahnawaz Muhammad Khan. "US China Trade War: Implications for the World." Global International Relations Review V, no. II (2022): 10-18. https://doi.org/10.31703/girr.2022(V-II).02