Question
Since 2018, the US and China are engaged in a trade war that's characterized by increased tariffs on goods imported from both countries. According to
Since 2018, the US and China are engaged in a trade war that's characterized by increased tariffs on goods imported from both countries. According to the South China Morning Post (SCMP), the trade war has eventually led to "tariffs on some US$ 550 billion worth of Chinese goods and US$ 185 billion worth of US goods" (see a detailed timeline of the trade war from(https://www.scmp.com/economy/china-economy/article/3146489/us-china-trade-war-timeline-key-dates-and-events-july-2018)by the SCMP). To put things in perspective, the total US-China bilateral trade is worth about US$ 615.2 billion in 2020 (Source:https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china#:~:text=U.S.%20goods%20and%20services%20trade,was%20%24285.5%20billion%20in%202020.).
Your thoughts on the effectiveness of the trade war (i.e., has the trade war achieved its intended purpose of reducing US trade deficit with China? Why do you think the trade war has been effective/ineffective?),
Your thoughts on the potential winners or losers from the trade war. What's the impact of the trade war on the consumers and producers from both countries?
If you are a trade policy maker in either the US or China (pick one country's position to argue), will you recommend the trade war to continue? Why or why not?
I need the answer in presentation format, like slide 1, slide 2 ..
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started