Question
Read paragraph below and answer the questions: Analyze based on the reading below. Add relevant information or statistical data to reading below. Propose a useful
Read paragraph below and answer the questions:
- Analyze based on the reading below.
- Add relevant information or statistical data to reading below.
- Propose a useful counterargument to the reading below.
- Propose a relevant and alternate position or information.
As a result of the continual tariff spat between the United States and China, there have been negative consequences and an impact on the economy. The war trade has caused a decrease in imports which has directly affected the third class country economies. As a result of China and the United States continual disagreement, it has led them to forget about nations which are clients whom depend on them for exports. The nastiness in trade relations between China and the United States may delay the entry of Chinese made cars into the United States, but it won't stop them (Hanley).Furthermore, many companies have had to absorb the additional costs of tariffs as well as pass them onto customers in the form of higher prices. Trade war has also caused reallocation to welfare funds and has increased personal income taxes to minimize the impact of the trade war. Finally, the war has contributed to the unemployment issue in the United States. Ultimately the tariffs pressured American businesses to obtain smaller profit margins, reduce salaries and jobs. As a result, American manufacturers had to cut capital funding and reduce hiring because of the uncertainty created by the trade war.
Needless to say, the ongoing tariff battle between the United States and China has had a significant global impact. Overall, this war has caused the increment of tariffs that ultimately led to significant loss for both countries. My recommendations to possibly help resolve this ongoing issue are as follows. First, both the United States and China need to align on guidelines and laws.Secondly, the United States should work towards preventing China from monopolizing the commanding heights of the global economy. Perhaps a timeline could be implemented where tariffs are reduced gradually which would life restrictions however only if China agreed to eliminate its tariff retaliation. Finally, the United States should take steps in speeding up their economic development while China is slowing down. Ultimately lifting tariffs entirely would have the most significant impact on inflation.No matter how it's perceived, ongoing tensions shape national views. Continual escalated tensions such as the one between the United States and China is experiencing ultimately results in a larger scale conflict which damages economic growth and significantly effects the relationship between the two countries.
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