Economic impact of the US-China trade conflict
2019
Kraciuk, J., Warsaw Univ. of Life Sciences (Poland). Faculty of Economic Sciences
The trade conflict between the US and China, which started at the beginning of 2018, was the result of the growing imbalance in trade relations between the two countries. The aim of the study was to show the potential effects of this conflict on mutual trade and on the economies of both countries. The 25-point increase in tariff rates on products imported from China, as announced by the US, will reduce imports of Chinese products, which will contribute to a reduction in the US trade deficit. Most of the costs resulting from the imposition of duties will be borne by the Chinese companies, as their profit margins will decrease. Customs receipts can be used to compensate for the social losses of US consumers. However, the losses for China as a result of the introduction of import duties by the USA may be lower if the Chinese decide to take retaliatory action.
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