Abstract
The paper attempts to provide an overview of the ongoing trade war between the United States and China. The major focus is to discuss the recent developments and discuss a time line of the events. It also looks at some of the other aspects that are linked with the ongoing trade war such as the Foreign Investment Law, the White Paper issues by the Chinese government discussing the trade war, and the Huawei issue.
Highlights
One of the most important points raised during the Presidential campaign by Donald Trump was the trade imbalance with China and its effects on the economy of the United States
At the beginning of the trade war, the trade deficit that the United States shared with China was around 419 billion dollars (NPR, 2019)
China’s National People’s Congress (NPC) approved the Foreign Investment Law (FIL) in March 2019.The law will come into effect on January 1, 2020
Summary
Trump had argued that the structure of the Chinese economy helped in keeping the commodity prices lower making it difficult for the American manufacturers to compete. Another important concern was the forced technology transfers from the American companies investing in China. China and the United States have attempted to negotiate a solution but have continuously failed to reach a common ground Given this background, the paper will attempt to look at the various developments since the trade war started and try and attempt the factors that are preventing any quick and acceptable solution
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