The U.S China Trade War

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A major part of President Donald Trump’s 2016 campaign involved a condemnation of China’s trading practices with the United States. Upon taking office on February 2017, the President launched an investigation into China’s trade policies. As a result of the investigation, the US imposed tariffs on billions of dollars worth of Chinese exports, with the Beijing administration retaliating in kind. After months of an impasse, in December 2018, both parties mutually agreed to pause tariffs and work together to reach a new trade agreement. However, trade negotiations fell through and the US increased the tariffs on an additional $200 billion worth of exports with Beijing following suit on US goods.

[vc_column_textThe trade war has had an adverse impact on the US and global stock markets with the major indices dropping into correction territory (a 20% drop from recent highs). The basic goods such as Aluminum and Steel that are exported from China increased in price, resulting in a potential price hike on ubiquitous goods such as aluminum foil wraps and soda cans. The IMF warns that worsening trade relations could soon result in a full-blown trade war, involving embargoes and further escalations. This will most certainly weaken the global economy. [/vc_column_text]

The territorial stance of Trump’s policies has had an adverse impact on the average US consumer and employee. Large cap companies such as Ford and GM continue to slash their workforce and consumers face an impending price hike on Chinese exports.

Individual’s savings and investments have also taken a dent as stock markets have faltered due to the trade war. Today, it is more important than ever to have a business tool that help automate revenue and day-today tasks..

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