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the paper is for my international business class, it is a group paper so I just want four pages for my part and what I will talk in my video." I want this to be private from research on the internet as the semester still going on". please follow my professor instruction as we have to cite everything we use. researched using articles from Temple University Library databases. please
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Surname 1
DISCUSSION
Name
Course
Professor
April 10, 2020
Surname 2
DISCUSSION
US Trade Protection
Introduction
Towards the end of the year 2018, there was a looming possibility of a full-scale trade war
occurring between the US and its traditional trade allies as President Donald Trump imposed
tariffs on steel and aluminum producers. The Canadian and European leaders were angered by
President Trump’s decision and opted to react swiftly by promising immediate retaliation (The
Guardian, 2018). It was at that time that Trump had also threatened to take protectionist action
against China as the US had long accused China of engaging in intellectual property theft and
unfair trading practices. China got the impression that the US was attempting to hinder its rise as
a global economic power. The dispute between the U.S. and China has resulted in tariffs being
imposed on one another's goods and services worth hundreds of billions of dollars (BBC, 2020).
Trump defended his decision claiming that imposing traffics on aluminum and steel imports are
justified and justified under the WTO national security exemption which allows any government
to take measure deemed necessary to protect its essential security interests.
In retaliation to the imposed tariffs on imports by the US administration, the EU imposed
tariffs on American goods worth 2.8 billion euros in June 2018. China has imposed retaliatory
tariffs on US goods worth over $110 bn. (BBC, 2020). Some of the commodities affected by this
were orange juice, motorcycles and bourbon whiskey. Similarly, Mexico imposed new tariffs on
US products such as pork, bourbon, steel, cheese, and whiskey in June 2018. Canada also
announced tariffs on US products worth 16.6 bn Canadian dollars (BBC, 2018).
The U.S. retreating on its position
As he campaigned for his election into the presidency, Trump promised to ensure trade
became fairer to the United States. After his election into the presidency, the Chinese and the
Surname 3
DISCUSSION
American governments were negotiating on a deal meant to strengthen trade between the two
leading world economies (Morris, 2020). However, this was later followed by the U.S.
government imposing high tariffs which, in turn, undermined the possibility of free and open
trade between the two economies as inflated tariffs, hiked up to 25% from 10%, were imposed
on Chinese goods that were worth hundreds of billions of dollars.
Over the past several months, the Trump administration has been engaging in a tit-for-tat
battle on several fronts on matters concerning international trade with the most intense being the
current conflict with China. The Trump administration has since imposed inflated tariffs on
imported goods for the EU, Canada, Mexico and China (BBC, 2018). According to President
Trump, imposing these tariffs will encourage consumers to purchase locally-made products. By
increasing tariffs, American-made products will likely be cheaper compared to imported goods
and, in turn, the consumers will be encouraged to purchase US-made products. The imposing of
inflated tariffs aimed at boosting local...