The article I chose to write about is about Donald Trump’s trade war with China and Europe. Due to the constant ‘trade war’ that has begun with the US and China and the US with Europe, it’s said that it’s going to continue to grow, throughout 2019. It’s been said that due to the current administration’s attacks, there have been more direct hits to the US on trade than ever before. Another reason that trade has been relatively decreasing is due to the increased cost of imports, the biggest one being oil.
When it comes to the current administration, Trump has been added extra duties on Chinese goods, with China obviously retaliating with putting duties on our goods as well. With countries shying away from the normal rules-based trading system, there has been in increase in tensions regarding trade, and growth rates in certain countries have also been decreasing. The IMF believes that in order for trade to become better between countries, we need to work together to ‘tackle the challenge that extended beyond their own borders’. I think that trade is going to continue to decrease as well as our nations growth rate, if we continue to smack more tarriffs on our goods, and try and start trade wars with different countries, for no specific reason.