superpower rivalry: US-China trade war Flashcards
(5 cards)
1
Q
When did the trade war start?
A
2018.
2
Q
Who started the trade war?
A
Tariffs implemented under the Trump administration and maintained under Biden. China then placed comparable tariffs on American goods.
3
Q
Why did the Americans implement the trade war?
A
Partly to reveres the extraordinary trade deficit, at its peak of a $419.2bn gap in imports and exports in 2018.
4
Q
How effective has the trade war been in lowering the trade deficit?
A
It has only returned the gap to pre-2015 levels.
5
Q
What are the 2 broader reasons for reversal of trade liberalisation?
A
- Evidence of growing superpower rivalry as the world’s biggest economies what influence and power over international order.
- Seeking to become less reliant on each other known as ‘decoupling’
