US China Trade War: Implications for the World

Abstract

In 2018, a trade war started between USA and China. Both the countries started to apply tariffs against each other. In March 2018, the USA applied tariffs on imports from China. Then in return, China also applied tariffs on a few products. With time, this trade war between both economies raised, and its further intensification made both countries suffer through imposed tariffs. Tariff wars between the United States and China have the potential to undermine global financial stability. As the world's biggest economies, China and USA have been merchandising products and services on a worldwide scale. After these countries retaliate,the tariff war will have an impact on the global distribution chain, international trade, the economy, and equity markets. The study is a qualitative-based critical analysis of the reasons and effects of this trade war between the two economic giants. It also explicitly highlights the environmental as well as economic impacts on the world community.