A Study on the Development of Chinese Agriculture under the US-China Tariff War and Countermeasures

Abstract

Since the trade friction between China and the US in 2018, the US has maintained a surplus in agricultural trade between China and the US, and China will also impose agricultural tariffs in response to the US sanctions. the list of tariff increases announced by China and the US in 2018 covers all types of agricultural products traded between China and the US, meaning that agricultural trade becomes an important part of the game between the two countries. Based on the list and the analysis of previous literature, this paper focuses on the development of Chinese agriculture and tries to provide countermeasures. The study finds that the US-China tariff war has both positive and negative impacts on China's agricultural development, bringing benefits to some enterprises and pushing back the development of new foreign trade markets. It has caused losses to relevant stakeholders, increased price volatility of agricultural products, and is detrimental to the development of agricultural foreign trade and the restructuring of agriculture. In the future, the development of Chinese agriculture can be promoted through the promotion of market stability, the continuous optimization of the agricultural structure and the improvement of modernization.