trade war between USA and china1000 words with 5 powerpoint slides3 min speaking notes

Running Head: US CHINA TRADE WAR        1
US CHINA TRADE WAR         3
US CHINA TRADE WAR
Table of Contents
Introduction    3
US-China Trade War History    3
Recent Happenings    3
Impact of US-China Trade War on the Economy of the US and China    4
Impact of the US-China Trade War on Global Trade    6
Conclusion    6
References    7
Introduction
History has witnessed trade among different countries through sea routes and various modes. With the advent of globalization, the physical boundaries of the state have ceased to exist for entrepreneurs. The volume of trade has increased heavily in the recent past and countries having huge trade volumes such as China and the US try to protect their interest and show their dominance through a variety of activities. The trade war between the US and China have been in existence for decades, and the outcome of the same has had an impact on the global economy.
US-China Trade War History
The trade relation between China and the US existed for hundreds of years. However, in July 1979, both the countries had signed a bilateral trade agreement. According to Unveren and Luckstead (2020), in 1979, the trade relation between Chin and the US was valued at $4 billion, which rose to $636 billion in the year 2017. The increasing trade relations over the years had led to China becoming the largest trading partner of the US. With the passage of time, the imports from China had increased heavily over exports to China. The trade war started when the US observed that there was a huge export deficit and there was resistance from China to invest in a few sectors in China.
Recent Happenings
In March 2018, a number of tariffs were imposed by the US on the goods imported from China to reduce dependence on Chinese imported goods. In response to that, China had also imposed tariffs on goods exported by the US. The intention behind the imposition of tariffs by the US was to force China to further open its market for the US goods and curb the state-backed high-tech sectors that form the core of Beijing’s ‘Made in China 2025’ strategy. In total, the US has imported three rounds of tariffs on the products imported from China. The total of the goods, on which the tariff has...