Following the new round of tariffs, US-China trade war is now officially in full swing.
The trade war between two world’s biggest economies, the U.S. and China, is escalating. Since January 2018, we’ve seen rounds of tariffs, applied on various products, impacting negatively local businesses and their customers.
The automobile, tech and agriculture sectors are already suffering from the dispute. Companies manufacturing in China, like Apple or Tesla, are facing a price increase on raw materials which most possibly will result in higher prices of their products and eventually fewer buyers. American farmers report $11.8 billion loss in their personal incomes. Not to mention those, who went bankrupt after introducing the soybean tariff. What is going to happen next?
With the help of a infographic prepared by Trademachines.com you can get a visual insight into the subject, understand what tariffs are, and why Donald Trump turned into protectionism. This visual summary of the war traces back the initial motives of the trade dispute and gives you a timeline of the most relevant events.
US has now imposed new round tariffs on wide range of Chinese made goods worth USD 200 billion overall. China has retaliated with its own tariffs, albeit for only 60 billion.
Naturally, since the trade between the two countries is unbalanced in favor of China (the official pretext of this trade war) America has more opportunities to impose new tariffs on more good rather than China.
Huawei, China’s top tech giant and the world largest telecom equipment maker, has already become the latest casualty of this trade war. The first shots were fired with the arrest of Huawei CFO and the daughter of the founder, Meng Wangzhou.
US and many of its allies stopped doing business with this firm. This even included Google blocking Huawei’s access to its Andriod system updates and Play Store.
China has promised to retaliate and there is a growing popular sentiment aimed at boycotting US firms such as Apple.
Here is the infographic on US-China trade war
