ВПЛИВ ПРОТЕКЦІОНІСТСЬКИХ ЗАХОДІВ НА ТОРГОВУ ВІЙНУ МІЖ США ТА КИТАЄМ

Abstract

The article provides the analysis of the development of trade relations between the two largest economies in the world – the United States of America and China and the impact of protectionist measures on their course, and in particular on the period from 2018 – trade war and its consequences for both states. The main stages of the formation of trade between the USA and China and the role of the WTO in this process are studied. The positive and negative consequences of deepening trade relations between the United States and China are considered. Trade protection measures applied by both countries, in particular during the trade war between Washington and Beijing are taken into account. Important components of the study are statistical data on changes in trade volumes between states and trade volumes to which protectionist measures were applied, which makes it possible to assess the scale of the impact of the US-China trade conflict on the economies of both countries and on world trade. China's protectionist policy has always forced the US to turn to the WTO to settle dumping and subsidizing issues. Trump administration began to overprotect the American economy and this resulted in what the whole world still calls the biggest trade war in recent history. A particular concern about Beijing's "national leader" policy forced Washington to act. According to research by American experts, such a policy will create unrealistic competition in the market and establish China's monopoly in many areas of trade. The fact that the world economy is gradually recovering from the effects of COVID-19 adds relevance to this, as the reduction in domestic production has collapsed the volumes of US domestic production, threatening a wave of unemployment, the general decline of the United States economy and a potential recession. The issue of settling the dispute between the two giants of the economy falls on the WTO that cannot resolve the conflict and shuts down in attempts to find a solution. The ability of political leaders of both countries to step over national pride for the sake of global trade could be the way, but this way does not seem possible.