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United States and China Trade War - Coggle Diagram
United States and China Trade War
How did it start?
China joined the World Trade Organizartion 2001
Impulsed their economy and helped their GDP grow.
People expected them to become capitalists
Became an Economic superopwer
Steal other companie's tecnology.
Endangered the United States's economical supremacy
What are the main characteristics of the conflict?
Currency manipulation.
The desire to gain global economic control.
Technological and economic war.
Strong and extremist campaigns.
How were companies affected?
Moody’s Analytics found that
U.S. economy nearly 300,000 jobs and an estimated 0.3% of real GDP.
U.S. goods trade deficit with China continued to grow, reaching a record $419.2 billion in 2018.
The most affected industries of this economic deficit were: automobilistics, technology and agriculture
Consecuences
United States
American goods exported to China and Chinese goods imported to the U.S. rose to about $375.2 billion last year from $347 billion the year before
In May 2019, the chiese tariffs for the U.S reached $200bn at 25%
The prices of Chineese products are going up at the stores and some are unaffordable for people
raising tariffs are starting to come back to hurt U.S. businesses and consumers.
China
It's ecomic growth has continued
Has to pay much more money because of raised tariffs by the US
In June 2019 the tariffs impsed by the united states reached $60bn at 25%.