Global Economy Under Trade War

Abstract

This article argues the positions of the global trade partners and war trade enemies, the United States and China and how their actions are changing the worldwide trade relations. China is becoming a great power and its expanding economy imposes a threat to the Western monopolized international system. US imposes tariffs on import products but this doesn’t mean trade decreases, it only shifts the markets. Partnerships are being built, new trade relations are getting shaped. The paper contributes to understanding the aspects of the trade war. As the conflicts continue, both these economic powers will bring uncertainty in the global trade market.

Keywords

• global trade
• trade war
• import tariffs