Trade Wars and the Struggle for Renewal of World Economic Order

In August 2017 the US President D. Trump launched under the Section 301 of the Trade Act of 1974 an investigation of China’s policies on intellectual property, technology transfer, and innovation. Since July 2018, the United States has unilaterally implemented three rounds of tariff increases under Section 301 on a total of $250 billion worth of Chinese products and restricted China’s investments in US economy. The article explains the logic of D. Trump’s trade policy, his motivation behind the initiation of “trade wars”, and his vision of the desired world economic order.

Keywords

China, US, “trade war”, China’s rise, international economic system, protectionism, D. Trump, US-China relations

Acknowledgment

The study was carried out with the financial support of the Russian Foundation for Basic Research in the framework of research project No. 17–07–50016-OGN

Received

16.05.2019

Publication date

17.05.2019

Number of characters

27714

Cite

GOST	Leksyutina Y. «Trade Wars» and the Struggle for Renewal of World Economic Order // Problemy Dalnego Vostoka – 2019. – Issue 2 C. 59-66 [Electronic resource]. URL: https://pdv.jes.su/S013128120004639-3-1 (circulation date: 20.04.2024). DOI: 10.31857/S013128120004639-3
MLA	Leksyutina, Yana V "«Trade Wars» and the Struggle for Renewal of World Economic Order." Problemy Dalnego Vostoka 2 (2019):59-66. DOI: 10.31857/S013128120004639-3
APA	Leksyutina Y. (2019). «Trade Wars» and the Struggle for Renewal of World Economic Order. Problemy Dalnego Vostoka (2), pp.59-66 DOI: 10.31857/S013128120004639-3

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1. WTO ITC UNCTAD. World tariff profiles 2018. P. 12. URL: https://www.wto.org/  english / res_e / booksp_e / tariff_profiles18_e.pdf.
2. Ibid. P. 8-12.
3. Ibid. P. 14-18.
4. The message of the Committee on customs duties at the State Council on the reduction of import duties on cars and their parts. 2018. (Chinese.) URL: http://gss.mof.gov.cn/  zhengwuxinxi / zhengcefabu / 201805 / t20180522_2903728.html.
5. Remarks by President Trump for Chinas Economic Aggression. 03/22/2018. URL: https://www.whitehouse.gov/  briefings-statements / remarks-president-trump-signing-presidential-memorandum-targeting-chinas-economic-aggression /
6. Ibid.
7. Ong R. China's Security Interests in the 21st Century. London: Routledge, 2007. p. 43.
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9. Section 301 Fact Sheet. URL: https://ustr.gov/  sites / default / files / USTR% 20301% 20Fact% 20Sheet.pdf.
10. Ibid.
11. CRS report `Enforcing U.S. Trade Laws: Section 301 and China `. February 24, 2019. URL: https://fas.org/  sgp / crs / row / IF10708.pdf.
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15. For example, the Government`s Report on the Work of the Government in 2018, announced on March 5, 2019, cuts down China`s import duties on a portion of goods and reduces the average level of customs duties from 9.8 to 7.5%.