Chinese trade war news
Here are some recent news articles and updates on the Chinese trade war:
Latest Developments:
- The United States and China have agreed to a "Phase One" trade deal, which includes a reduction in tariffs on Chinese goods and increased purchases of US agricultural products. The deal was signed on January 15, 2020. (Source: CNN)
- The Trump administration has announced plans to impose new tariffs on $300 billion worth of Chinese goods, effective September 1, 2020. China has vowed to retaliate with its own tariffs. (Source: The New York Times)
- The US-China trade war has led to a decline in global trade, with the World Trade Organization estimating a 1.2% drop in global trade in 2019. (Source: Bloomberg)
Recent News Articles:
- "US and China Reach Trade Deal, but Tensions Remain" (The New York Times, January 15, 2020)
- "China Vows to Retaliate Against US Tariffs, Despite Trade Deal" (Bloomberg, January 16, 2020)
- "Global Trade Declines as US-China Trade War Takes Toll" (The Wall Street Journal, January 14, 2020)
- "China's Economy Slows as Trade War Takes Its Toll" (The Financial Times, January 17, 2020)
- "US-China Trade War: What's at Stake and What's Next" (CNBC, January 15, 2020)
Key Issues:
- Tariffs: The US has imposed tariffs on over $360 billion worth of Chinese goods, while China has retaliated with tariffs on over $110 billion worth of US goods.
- Intellectual Property: The US has accused China of stealing intellectual property and forcing US companies to transfer technology to Chinese partners.
- Market Access: The US has sought to increase market access for US companies in China, particularly in the financial and agricultural sectors.
- Currency Manipulation: The US has accused China of manipulating its currency to gain an unfair trade advantage.
Impact on the Economy:
- The US-China trade war has led to a decline in global trade, with the World Trade Organization estimating a 1.2% drop in global trade in 2019.
- The trade war has also led to a decline in US-China trade, with the US-China trade deficit shrinking by 12.4% in 2019.
- The trade war has had a negative impact on the US economy, with the US Chamber of Commerce estimating that the tariffs have cost the US economy over $50 billion in 2019.
What's Next:
- The US and China are expected to continue negotiating a "Phase Two" trade deal, which could address issues such as intellectual property, market access, and currency manipulation.
- The US is also expected to continue imposing tariffs on Chinese goods, with the possibility of new tariffs on $300 billion worth of Chinese goods.
- China is expected to continue retaliating against US tariffs, with the possibility of new tariffs on US goods.