Trade War The Clash Of Economic Systems Endangering Global Prosperity Meredith A Crowley by Meredith A. Crowley 9781912179206, 1912179202 instant download after payment.

A trade war of unprecedented scope and magnitude currently engulfs the world’s two
largest economies – the US and China. As of mid-May 2019, US President Donald
Trump has imposed import tariffs of 25% on roughly $250 billion of Chinese goods and
has initiated an administrative process to expand tariff coverage to the remaining $300
billion of US imports from China. In the first round of the trade war, China retaliated
with 25% tariffs on $50 billion of imports from the US in July-August 2018, followed
by tariffs ranging from 5% to 10% on $60 billion of imports in September 2018. In
response to the US escalation of the trade war in mid-May 2019, China has indicated
that it will ratchet up its existing tariffs on US merchandise to 25% (Bown 2019).