Question

1. Identify some weights on historical losses that you think should make more sense in current trading war environment.

Answer 1

Trade war is not a new thing to the entire world and it has been adopted by various countries at various times but it had always hurt the process of the globalisation to a large extent and it has lead to cutting down on the global trade and cutting down on the global economy so trade barriers have been placed in trade wars and thathave been negatively impacting the growth of the global economy.

In 19th century, there was an opium war of British and Chinese and Chinese emperor declared opium illegal and seized those goods and which was freed by might of Britishers later on.

Around 1930 United State also elected Snoot hawleys in which the United States government has increased the tariffs on the European goes to the extent of almost 40% in order to protect the invasion of European goods into the United States to protect interest of the United States farmers and in retaliation, various European countries has also adopted a policy of introduction of tarrifs onto the United States which led to the shrinking of the global economy.

So, it can be said that trade barriers has been part and parcel of a global World and recently introduced trade war of United States upon Chinese goods is another example of which which impacting the trade between the two Nations and it is also impacting the overall global trade and global trade is being cut and people and having a lower access to foreign made goods