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The US-China Trade War: What Is Africa’s Gain?

In: Fostering Trade in Africa

Author

Listed:
  • Folasade Bosede Adegboye

    (Covenant University)

  • Gbadebo Odularu

    (Bay Atlantic University
    Socio-Economic Research Applications and Projects (SERAP LLC)
    Center for Research on Political Economy (CREPOL)
    SSCG Consulting)

  • Oluwatoyin Augustina Matthew

    (Covenant University)

Abstract

A trade war occurs if a country reacts against the other by increasing import tariffs or employing some other constraints on the rival country’s imports. A tariff usually is termed as a charge or levy obligated on the import of goods into a country. In a global context, a trade war could be severely destructive to the consumers and industries of both countries, of which the transmission could be amplified to cause disturbances in several facets of both countries. They could further be referred to as the spinoff of protectionism, which government of countries utilize from time to time in the form of policies which restrain the trade facilitation process. Countries most times usually initiate protectionist concept with the intention of barely preserving domestic industries and entrepreneurs from foreign rivalry. Other than the preservation of domestic industries, it also could be utilized to readjust deficits in trade.

Suggested Citation

  • Folasade Bosede Adegboye & Gbadebo Odularu & Oluwatoyin Augustina Matthew, 2020. "The US-China Trade War: What Is Africa’s Gain?," Advances in African Economic, Social and Political Development, in: Gbadebo O.A. Odularu & Mena Hassan & Musibau Adetunji Babatunde (ed.), Fostering Trade in Africa, pages 153-170, Springer.
  • Handle: RePEc:spr:aaechp:978-3-030-36632-2_7
    DOI: 10.1007/978-3-030-36632-2_7
    as

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