Originally published in the Policy Research Working Paper Series on January 2022. This version is updated on February 2023. To obtain the originally published version, please email [email protected] .
The impacts of the U.S.–China trade war
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- Published: 05 February 2020
- Volume 55 , pages 69–72, ( 2020 )
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- Gordon H. Hanson 1
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The trade war has received an enormous amount of attention. Its impacts today have been limited because the U.S. and China have been a bit restrained. Lots of firms have gotten exceptions to these tariffs and there have been lots of delays in their full implementation. It’s also been the case that U.S. firms have been delaying making adjustments to their global value chains. What has been striking is that the impact of tariffs on U.S. prices has been one-for-one. These tariffs are unlikely to have a significant impact on manufacturing employment in the United States: the job loss that we observed as a consequence of import competition from China came primarily from factory closure, furthermore U.S. tariffs didn’t target all U.S. imports. They targeted imports from China. Looking forward, to the extent the trade war is dampening GDP growth in China, itcould happen political consequences at home. As for us, this is a defining moment in which we’re going to see whether the U.S. is willing to maintain its commitments to more open borders.
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Hanson, G.H. The impacts of the U.S.–China trade war. Bus Econ 55 , 69–72 (2020). https://doi.org/10.1057/s11369-020-00163-7
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Published : 05 February 2020
Issue Date : April 2020
DOI : https://doi.org/10.1057/s11369-020-00163-7
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IMAGES
COMMENTS
The trade war stands out as among the largest and most abrupt change in US trade policy history, particularly when juxtaposed against the leading role historically played by the US in driving tariff reductions around the globe. As the trade war unfolded, economists attempted to assessitseconomicimpacts.
6.2% to 16.4% on US imports into China. The Phase 1 Agreement between the US and China reduced the tariffs on Chinese imports into the United States to 16%. To limit the scope of the paper, it focuses on the trade tensions between the US and China.1 The tariffs on Chinese imports have been motivated with at least four arguments: (i) address
PDF | The article reviews the chronology and analyses the causes and possible consequences of the trade war between the US and China. The authors... | Find, read and cite all the research you need ...
a country complements or substitutes the US or China, and the slope of its supply curve. Countries that operate along downward-sloping supplies whose exports substitute (complement) US and China are among the larger (smaller) beneficiaries of the trade war. This paper is a product of the Development Research Group, Development Economics.
Independent researcher based in the US and a former research fellow at the Carnegie Endowment for International Peace. 54 . Indian Journal of Asian Affairs, Vol. 31, No.1-2, June-Dec. 2018 ... the current US-China trade war- which started in March 2018A . trade war, considered as an unconventional war, could have wide and profound impact on ...
In 2018, the US launched a trade war with China, an abrupt departure from its historical leadership in integrating global markets. By late 2019, the US had tariffed roughly $350 billion of Chinese imports, and China had retaliated on $100 billion US exports. Economists have used a diversity of data and methods to assess the impacts of the trade war on the US, China and other countries.
Abstract. In 2018, the US launched a trade war with China, an abrupt departure from its historical leadership in integrating global markets. By late 2019, the US had imposed tariffs on roughly $350 billion of Chinese imports, and China had retaliated on $100 billion US exports. Economists have used a diversity of data and methods to assess the ...
Its impacts have so far been limited because the U.S. and China have been somewhat restrained in going to the wall and imposing comprehensive barriers on each other. When things started, in the beginning of 2018, U.S. average tarifs on imports from China were about 3.1%. China's average tarifs on imports from the United States were about 8.8%.
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This paper studies global trade responses to the US-China trade war. It estimates the tariff impacts on product-level exports to the US, China, and rest of world. On average, countries decreased exports to China and increased exports to the US and rest of world. Most countries export products that complement the US and substitute China, and a ...
Lasting U.S.-China trade tensions may lead to serious global recession. members, Europe, East Asia and practically the rest of the world. If the Trump administration continues moving away from the post-World War II trading regime, these bilateral frictions will broaden and multilateralize.
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This paper was made by me as a project in Political Economy course in fall semester 2018. It tackles the recent trade war between US and China in 2018. It contains brief literature review about ...
This paper studies the current trade war between China and the US from a historical standpoint. By comparing the ongoing trade war with similar trade conflicts in history, we reveal three major ...
The dummy variable for groups , represents being in the treatment group. In this study, it takes on the value of 1 when the firm is. directly impacted by a tariff, and otherwise 0, representing the control group. The dummy variable is an interaction term of and , and only takes on the value of 1 when = 1 and = 1.
Abstract Recently, a group of eminent Chinese/US economists and legal scholars issued a thought-provoking Joint Statement on 'US-China Trade Relations: A Way Forward'. However, the Joint Statement does not provide practical solutions to the real issues in the bilateral negotiations. Moreover, by granting excessive policy space to the two largest trading nations, it would encourage them ...
Abstract. The recent US-China trade war refreshed the memory of trade protectionism in the era of global integration. In this context, this paper analyzes the impact of higher trade tariffs imposed by the US and China on each other, on India, a large country having significant trade ties with both the US and China, yet not directly involved in ...
The US-China trade relationship has expanded immensely after China's reformation of its economy and liberalization in 1979. A very huge amount of trade takes place between the United States and China in terms of monetary value and quantity. China benefits the United States in several forms other than just trade, such as US firms seeking investment opportunities in China for their assembly ...
A. How will India fare in a US-China trade war ? In the first trade-war . Simulation 1, the US and China raise tariffs uniformly against each other to 20% in agriculture, mining and manufacturing sectors. In a second, follow-up simulation, both the US and China increase their tariffs on imports from India as well , but India does not react.
The move by the Trump administration was aimed at correcting the US China trade imbalance, where US has a huge trade deficit with China. This paper aims at analyzing the India's trade with US and China to find out opportunities for India amid burgeoning trade differences between two economic giants. Keywords: US China Trade War, 818 items, 25 ...