News Article Review. Literature & Language Assignment.

News Article Review
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News Article Review
Spillover is an occurrence of an economic event in an unrelated context or condition. For that reason, policymakers and government alike should embark on effective strategies to minimize the existence of a spillover. A spillover effect can entail an impact that unrelated events in a country can have on other nations. Although an overflow can have a positive effect, it can have negative implications for different parts of the world. For instance, a decline in consumer spending in the United States can have a spillover impact on the economies that depend on the country. Spillovers have a significant effect on the allocation of resources and, thus, the need to implement effective strategies to address the issues.
Article title: The US-China Trade War: A Timeline
Date: 13th May, 2020
Author: Dorcas Wong and Alexander Chipman Koty
Page: N/A
Article Summary
The article reveals a trade battle between the US and China as the largest economies. The antagonism between the two countries influenced them to impose tariffs on each other’s goods worth billions of dollars. According to the findings in the article, President Donald Trump accused China of its unfair trading practices and theft of intellectual properties. Notably, America attempts to curb its prominence as a global economic power. Despite the negotiation efforts, the two countries have sustained trade antagonism. According to Wong and Koty (2020), Trump imposed a policy to make imported goods more expensive as a strategy to encourage consumers to purchase products from the United States. While the United States imposed tariffs on Chinese products, the United States retaliated with tariffs on more than $10 billion US goods.
Relation of the article to learning outcomes
The trade war between the United States and China is an ideal example of an economic spillover between countries. According to the news article, China accuses the United States of launching one of the most robust trade wars in economic history. In this case, the former slapped retaliatory tariffs on the imports from the United States after imposing duties on Chinese products. The scenario marked the start of trade wars between the most significant economies (Wong & Koty, 2020). After President Trump imposed trade tariffs, Beijing responded by imposing levies on the imports from the United States. Notably, trade bullying jeopardizes the worldwide industrial chain and prevents global economic recovery. Therefore, the scenario is likely to affect both consumers and multinational corporations.
The trade war between China and the United States resulted in a market confusion among the economies. A prospect of trade wars results in soaring prices of some...