The US and China are in the trenches of a trade war, with damaging consequences for both sides. From Trump’s perspective, American companies will profit under his new trade regulations: Americans would be more likely to buy US-made products as opposed to higher-priced imported goods. US industries, however, are feeling the pressure from the imposed tariffs, and some companies are looking to shift production to China in order to avoid higher production costs at home.
But the negative effects of the trade war are not limited to the US and China. South Korea, Taiwan, and Singapore are closely linked to China’s economy, and businesses which act as supply chains to China are also feeling the pain of tariffs. The UK is already reporting losses, causing it to increase prices on automobiles sold in China. What is the outcome of this trade war and what are its long-term effects? Are the tensions between the US and China about trade, technological dominance, or a great power competition for economic and strategic supremacy?
Yukon Huang is currently a senior fellow at the Carnegie Endowment in Washington, D.C. and was formerly the World Bank’s Country Director for China. Mr. Huang will join us to discuss possible outcomes for China and America's growth prospects and foreign policy relations.
SPEAKER:
Yukon HuangSenior Fellow, Asia Program, Carnegie Endowment for International Peace
The US and China are in the trenches of a trade war, with damaging consequences for both sides. From Trump’s perspective, American companies will profit under his new trade regulations: Americans would be more likely to buy US-made products as opposed to higher-priced imported goods. US industries, however, are feeling the pressure from the imposed tariffs, and some companies are looking to shift production to China in order to avoid higher production costs at home.
But the negative effects of the trade war are not limited to the US and China. South Korea, Taiwan, and Singapore are closely linked to China’s economy, and businesses which act as supply chains to China are also feeling the pain of tariffs. The UK is already reporting losses, causing it to increase prices on automobiles sold in China. What is the outcome of this trade war and what are its long-term effects? Are the tensions between the US and China about trade, technological dominance, or a great power competition for economic and strategic supremacy?
Yukon Huang is currently a senior fellow at the Carnegie Endowment in Washington, D.C. and was formerly the World Bank’s Country Director for China. Mr. Huang will join us to discuss possible outcomes for China and America's growth prospects and foreign policy relations.
SPEAKER:
Yukon HuangSenior Fellow, Asia Program, Carnegie Endowment for International Peace
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