Business Spotlight – Nr.6 2019

26 Business Spotlight 6/2019 FACTS & FIGURES

TRADING BLOWS

Der Handelskrieg zwischen den USA und China beeinträchtigt zunehmend auch die

Außenwirtschaft anderer Staaten. EAMONN FITZGERALD gibt einen Überblick.

ADVANCED

FACTS & FIGURES

USA vs CHINA

November 2016: President

Trump outlines his economic

strategy of “putting America

first”, saying that he would

negotiate “fair, bilateral trade

deals that bring jobs and

industry back onto American

shores”.

January 2018: The US

introduces tariffs of up to

30 per cent on solar panel

imports into the country.

March 2018: President Trump

announces his intention to

impose a 25 per cent tariff on

steel and a ten per cent tariff

on all aluminium imports.

April 2018: China imposes

a 178 per cent tariff on US

sorghum imports. Sorghum

is the world’s fifth-most

important cereal crop after

rice, wheat, maize and barley.

A TRADE-WAR TIMELINE

An unequal balance: trade in goods

and services in 2018

■ China was the US’s largest

source of imports of goods in

2018 (21.2% of total US imports).

US imports from China are up

427% from 2001.

■ China was the US’s

third-largest export

market for goods in

2018 (7.2% of total US

exports). US exports

to China are up 527%

from 2001.

U

S^

im

po

rts^

from^ China:^ $^557. 9

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lli
on
U
S (^) e
xp
orts
to (^) China: $ 179.^3 b
illi
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Trade-war word: “protectionism”
“Protectionism” consists of government actions
that affect international trade, for example the
imposition of tariffs on imports or import quotas.
A country takes protectionist actions to build up its
industries and protect its businesses and jobs from
foreign competition. Protectionism is also used to
reduce trade deficits, which arise when a country’s
imports exceed its exports. Critics, however,
say that protectionism can hurt the people it is
intended to protect by increasing the prices of
imports and slowing economic growth.
US trade
deficit with
China:
$378.6 billion