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Global Trade War And The Battle For Economic Supremacy In The 21st Century

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  • Virginia Câmpeanu

Abstract

We are witnessing unprecedented conflicts in international trade, which tend to deepen and globalize, affecting jobs, economic sectors, population and governments. Some analysts believe we are already in a global trade war that broke out March 1, 2018 and marked new escalades by the end of June.Our article makes an introduction to the trade protection measures initiated by the US administration and the arguments the US put forward. The second part analyzes the USA-European Union positions to the conflict, the retaliation measures applied by the European Union, the escalation of the conflict and the prospects for solving. The third part analyzes the US-China trade war, American administration requirements, China's retaliatory measures, conflict escalation, and prospects. The article ends with conclusions and long-term prospects.

Suggested Citation

  • Virginia Câmpeanu, 2018. "Global Trade War And The Battle For Economic Supremacy In The 21st Century," Euroinfo, Institute for World Economy, Romanian Academy, vol. 2(6), pages 3-12, June.
    • Handle: RePEc:iem:eurinf:v:2:y:2018:i:6:p:3-12
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/650/730
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    More about this item

    Keywords

    trade war; protectionism; duties; USA; European Union (EU); China;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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