Dynamics of the US-China Trade War: Evolution and Consequences

Abstract

The trade war between the United States and China, initiated in 2018, has
destabilized global trade and economy. Despite the signing of the so-called
Phase One Agreement in January 2020, the effects of this economic confrontation
extend far beyond its immediate consequences. This article reviews
the early consequences of the trade war, drawing on analyses from available
sources, taking into account the latest events and data to assess the conflict’s
impact on the global economy. Particular attention is paid to recent changes
in the trade policies of both countries and their impact on global supply chains
and economic outcomes, emphasizing the long-term implications for the
global trade order and economic growth.