Adapting to Turbulence: How Global Retail Giants Navigate Trade Wars and Reshape International Trade Norms

Abstract

More than just a part of the economic landscape, retailing has a profound impact on society, culture, and the market economy. As an integral part of the economic ecosystem, retailing provides goods and services to consumers and is also an enabler of economic growth, closely linked to other industries. Global retail giants play an important role in international trade by increasing supply chain transparency and encouraging suppliers to comply with ethical labor practices and environmental standards. This commitment to sustainability and social responsibility is consistent with the emphasis on fair labor practices and environmental stewardship in international trade norms. However, significant challenges arise when confronted with the trade-off between national interests and the interests of transnational corporations on the global stage. Governments often aim to protect domestic industries and jobs, which may conflict with the interests of global retailers in having smooth access to global markets. Finding the right balance between these interests remains a perennial challenge in international trade discussions. In addition, the burgeoning trade war between the United States and China has had varying degrees of impact on the retail industry. Therefore, this dissertation will delve into the new challenges and changes faced by retail giants in the context of the trade war.