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.
ADVANCEDFACTS & FIGURES
USA vs CHINANovember 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^
impo
rts^
from^ China:^ $^557. 9(^) bi
lli
on
U
S (^) e
xp
orts
to (^) China: $ 179.^3 b
illi
on
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