Question

essay question:

US-China trade War: A potential trade war has been brewing since April 2017 when Trump directed the Commerce Department to investigate whether imports of foreign steel from China and other countries could be a threat to national security. Critically access and evaluate the implication of both countries to the whole world economy.

• Outline the international impact/importance/concerns relating to this issue.

• Briefly outline your view(s) on this international issue.

• Future prospects/issues

Answer 1

Solution:

This tariff on import of steels has given a huge impact on the world because many countries are now thinking of a retaliation.

• The European Union is a major exporter of steel to the U.S. A German newspaper reported that the EU is planning to impose tariffs on classic American products, such as Kentucky bourbon, Harley-Davidson motorcycles and agricultural products such tomatoes and cheese. There is also fear that China will retaliate with similar tariffs over U.S. soybean imports. So these were the recent impacts and  possible concerns for the whole world and also to the U.S.
• According to me if U.S continues to put the tax on imports of steel then there is a huge possibility of trade war as in the recent various companies are putting up their conerns that   it would be harder on them if there is an  increase in the prices. Hence these import taxations have to be reduced in order to stabilise the situation or else it will be a disaster for the whole world including the U.S.
• In the near future even though there will be increase of the stock price of american steels but the overall effect will not be healthy if this continues. Many U.S products might have to pay hefty tariffs at the other countries as a retaliation answers and this will be a major concern for the economy in the near future.

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