Question

talk about the following: History of protectionist tariffs History of currency manipulation History of the U.S.-China trade war The current state of affairs of the U.S.-China trade talks How this issue is affecting the U.S. economy and Americans.

Answer 1

The trade war has negatively impacted the economies of both the US and China. In the United States, it has led to higher prices for consumers and financial difficulties for farmers. In China, the trade war contributed to a slowdown in the rate of economic and industrial output growth, which had already been on a decline. Many American companies have shifted supply chains  to elsewhere in Asia, bringing fears that the trade war would lead to a US-China economic ‘decoupling’ In other countries the trade war has also caused economic damage, though some countries have benefited from increased manufacturing to fill the gaps.

It has also led to stock market instability. Governments around the world have taken steps to address some of the damage caused by the economic conflict.

Internationally, there has been support for the end goal of the trump administration's trade war of trying to change China's trade policies, while there has also been criticism of the use of tariffs and the trade war's negative economic impact. Among American industries, U.S. businesses and agricultural industries have opposed the trade war, though most farmers continued to support Trump.

Among U.S. politicians, some have disagreed with the tactics Trump is employing, but most agree with the goal of putting pressure on China.As of late November 2019, none of the leading Democratic candidates for president said they would remove the tariffs, including Joe Biden  and Elizabeth Warren , both of whom agreed the U.S. had to confront what they see as China's unfair trade policies.

Issues effected affecting US Economy

economy estimated that the trade war would cost the US economy  $316 billion by the end of 2020, while more recent research from the Federal Reserve Bank of New York and Columbia University found that US companies lost at least $1.7 trillion in the price of their stocks as a result.

The economy of US and china are intricately linked, due to the two nations sharing the second-largest trading partnership of goods and services. China's impact  on oil prices can benefit the United States in the short term, as the States can enjoy decreased oil import prices.

In the long term trade wars slow economy growth slow economic growth. They create more layoffs, not fewer, as foreign countries retaliate. The 12 million U.S. workers who owe their jobs to exports could get laid off. Consultant Oxford Economics predicted the trade wars could cost the global economy $800 billion in reduced trade.