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Causes and Potential Effects of Trade War between the US and China
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18. President Trump has initiated what many are now calling a "trade war' with China and other countries, instituting heavy tariffs on imported trade goods. What are the causes and potential effects of this new policy.
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Causes and Potential Effects of Trade War between the United States and China
Introduction
For the past three decades, America and China enjoyed trade relation without any side citing unfair treatment. At least that was the case until the United States president, Donald Trump, rattled that America was getting stiffed on trade. One of the main reasons for this attitude is due to the popularized slogan that the president used in his campaign, “America first.” Recently, the US president announced tariffs of 10% on imported Aluminum and 25% on imported steel. The president believed that the move would bring back the billions of dollars that are lost each year to other countries such as Mexico and China because of the US imports more than it exports. The move has triggered a trade war that could lead to other countries to retaliate among other potential effects. This paper will outline the cause and potential effects of the trade war between the United States and other countries, particularly China.
Causes
Lashing out at US Allies
There are two aspects involved in Trump’s trade-war policy. One is against action against United States’ allies such as Mexico, Canada, and the EU and the other stance is designed against China (Handley and Nuno 2741). However, it is essential to note that the two aspects are unique to each other. The action against the United States allies is driven by its conservative and traditional politics; political views that are also shared by his political advisors. It should be noted that president Trump had maintained the same political spirit even before he was elected to office in 2016 (Krugman). According to the right-wing nationalist perceptions about the world, there are no significant ties that can be attained from global trade. Thus, by imposing increased tariffs, the United States’ force other nations to readjust their deals without America losing any bargain. By increasing tariffs, the United States is obliging its allies to secure better deals for the US at the expense of others.
The right-wing nationalist perspective on the trade war is contrary to the consensus that promotes free trade in the United States dominated global order. The conservatives and the liberals have always shown their support for an open global system which is founded on the concept that everyone will eventually gain. The free long-time establishment consensus of free trade was designed to allow a more natural flow of capital around the world in search of lax environmental regulation, low taxes, and low-wage labor (Kotz). The increased tariffs have been discouraged by the liberal, but Trump remains adamant. It is worth noting that the US does not have sufficient privileges to impose an unfair set of rules on the rest of the world. Even before Trump decided to increase tariffs of steel and Aluminum, the average US tariff of 2.79 surpassed that of the major developed nations with trade relations with the United States such as EU countries (1.92 percent) and Canada (2.44 percent) (Kotz). Hence, the establishment of new tariffs that are offensive against Mexico, Canada, and the EU could lead to a global war, without a...
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