Economic Impact of the US Tariffs in the US-China Trade War

Abstract

Tariffs take place as the most widely used policy instrument within the scope of protectionist policies in international trade. In 2018, the United States increased the tariff rates on imported products from various countries, mainly in Republic of China. It is seen that tariffs are used as an important policy tool for foreign trade in the trade war which started with a similar reaction from China. It has started between the two countries because of various economic and political reasons, although the aims of providing income and protectionism were shown the main reasons causing this war. In addition to the effectiveness of the tariffs, the effect of the trade war on the national and global markets should be emphasized for this trade war.