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US-China trade deal
What was the goal of Trump's tariffs on China?
Trump aimed to reduce the U.S. trade deficit, protect American jobs, and pressure China into fairer trade practices.
How did China respond to U.S. tariffs?
China retaliated with its own tariffs and increased trade with other countries like Vietnam and Mexico.
Who ended up paying most of the tariff costs?
According to a 2019 CBO report, U.S. businesses and consumers bore most of the tariff costs, not China.
How did the tariffs affect global trade?
The tariffs disrupted supply chains, encouraging countries to trade more with partners outside the U.S.-China relationship.
What historical event is similar to the U.S.-China trade war?
The Smoot-Hawley Tariff Act of 1930, which worsened the Great Depression by hurting global trade.
How is the trade war similar to the Cold War?
Both involve economic competition between global powers without direct conflict, focusing on trade, technology, and influence.
What trade agreement did China join after the tariffs?
China joined the Regional Comprehensive Economic Partnership (RCEP), excluding the U.S., strengthening its trade ties in Asia.
What economic terms are important for understanding this conflict?
Key terms include tariffs, trade deficit, protectionism, economic integration, and trade barriers.
How does this conflict connect to global politics?
It reflects broader U.S.-China geopolitical tensions, affecting alliances, technology competition, and global trade patterns.
What is a solution involving economic integration?
A new trade agreement lowering tariffs, protecting intellectual property, encouraging investments, and promoting cooperation through the WTO.
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