Summary of How Will the Escalating Trade War Between China and the United States Affect Chinese Citizens?

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How Will the Escalating Trade War Between China and the United States Affect Chinese Citizens? summary

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As the trade frictions between the world’s two largest economies unfold, author Liu Sha of Chinese tech media site Ifanr examines the underlying causes, which, in her opinion, are unrelated to trade.  She sums up the implications of the conflict, in particular for Chinese citizens, and assesses the seriousness of the conflict. getAbstract recommends this article to readers interested in the effects of trade war.

In this summary, you will learn

  • What consequences individual Chinese citizens will suffer as a result of the trade frictions between China and the United States,
  • Why the conflict is escalating, and
  • Why this trade war can have no winner.
 

About the Author

Liu Sha, an author at Ifanr, a Chinese multi-media site for the latest international and domestic reports on technology based in Guangzhou, has written numerous articles on topics such as technology, politics and finance.

 

Summary

In February 2018, US president Donald Trump announced hefty tariffs for steel and aluminum products. Soon after, the price for an aluminum can of Coca-Cola in the United States increased by 0.67%. If the price of raw materials rises due to import duties, manufacturers will cover their costs by raising their prices. More prices will likely increase as tensions between China and the United States build up. In China, prices in the food industry – for example nuts and fruit originating in the United States – could rise. If the conflict’s scope extends to the manufacturing and chemical industries, the tensions will affect downstream manufacturers in the United States as well as Chinese citizens.

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