๐Ÿ“ Part 1: Trump’s First Term (2017–2021) – The Start of the U.S.-China Trade War & Global Economic Shock

 



The U.S.-China trade war was one of the defining economic events of Trump’s first term. What started as a campaign promise to reduce America’s trade deficit quickly escalated into one of the most intense economic conflicts in modern history. The battle between the world’s two largest economies reshaped global trade, disrupted supply chains, and set the stage for ongoing geopolitical tensions.

How did it all start? What were the key moments? And how did it affect the global economy? Let’s break it all down. ๐Ÿ‘‡


⚔️1. Trump’s First-Term Economic Policies – The Rise of ‘America First’

When Donald Trump took office in 2017, he made it clear that his economic policy would prioritize American industries, workers, and national security. This approach, known as ‘America First’, emphasized protectionist trade policies to reduce reliance on foreign imports.

๐Ÿ”„ Protectionism vs. Free Trade

✔️ Protectionism: Trump argued that unfair trade practices (especially from China) were hurting American businesses and jobs. His solution? Tariffs, trade restrictions, and renegotiated trade deals.

✔️ Free Trade: Economists and trade experts warned that a shift toward protectionism could disrupt global supply chains and slow down economic growth.

๐Ÿ’ก Trump’s Key Economic Policies

✔️ Massive Tax Cuts (2017 Tax Cuts and Jobs Act) – Corporate tax rates dropped from 35% to 21%.

✔️ Deregulation – The Trump administration rolled back environmental and labor regulations to boost business growth.

✔️ Trade Wars & Tariffs – The most controversial part of Trump’s economic policy was his aggressive approach to trade—especially against China.


https://www.americanprogress.org/article/trumps-corporate-tax-cut-not-trickling/



⚔️ 2. The 2018 U.S.-China Trade War – Origins & Background

The U.S.-China trade war officially began in 2018, but tensions had been building for years. Trump accused China of unfair trade practices, intellectual property theft, and manipulating its currency to gain an advantage in global markets.

๐Ÿ” Why Did Trump Target China?

✔️ Massive Trade Deficit – In 2017, the U.S. had a $375 billion trade deficit with China, meaning America imported far more than it exported.

✔️ Unfair Trade Practices – The U.S. accused China of forcing American companies to transfer technology and subsidizing state-owned enterprises to dominate industries like steel, electronics, and 5G.

✔️ National Security Concerns – The U.S. government feared that China’s tech advancements, especially in AI and telecommunications (Huawei, ZTE), posed a threat to American security and innovation.


๐Ÿš€ The Start of the Trade War: U.S. Tariffs on China

In July 2018, Trump imposed the first round of tariffs on $34 billion worth of Chinese goods, marking the official start of the trade war. China immediately retaliated with its own tariffs on American products.

And just like that, the trade war was on. ⚠️



https://en.wikipedia.org/wiki/First_Trump_tariffs


๐Ÿ”ฅ 3. Key Phases of the U.S.-China Trade War (2018–2020)

Between 2018 and 2020, the trade war intensified, affecting industries, businesses, and global markets. Let’s look at the key events:

๐Ÿ›‘ 1st & 2nd Tariff Rounds (2018–2019)

✔️ July 2018: U.S. imposes 25% tariffs on $34 billion of Chinese imports. China retaliates with tariffs on U.S. soybeans, automobiles, and seafood. ๐Ÿšœ๐Ÿš— 

✔️ September 2018: U.S. expands tariffs to $200 billion worth of Chinese goods. China responds with tariffs on $60 billion worth of U.S. goods. ๐Ÿ“‰ 

✔️ May 2019: Trump raises tariffs from 10% to 25% on many Chinese products, further escalating tensions.

๐Ÿค 2020: U.S.-China ‘Phase One’ Agreement

✔️ In January 2020, the U.S. and China reached a “Phase One” trade deal, aiming to reduce tariffs and increase Chinese purchases of American goods. 

✔️ China agreed to buy $200 billion in U.S. goods over two years, including agriculture, energy, and manufactured products. ๐ŸŒฝ๐Ÿ’ฐ 

✔️ However, many tariffs remained in place, and tensions between the two countries didn’t disappear.

https://www.uscc.gov/sites/default/files/2020-02/U.S.-China%20Trade%20Deal%20Issue%20Brief.pdf



๐ŸŒ 4. The Global Economic Impact of the Trade War

The U.S.-China trade war disrupted global markets, slowed economic growth, and reshaped supply chains. Here’s how different industries were affected:

๐Ÿ“‰ Economic Slowdown & Market Uncertainty

✔️ Global GDP growth slowed down as companies struggled with higher costs and trade uncertainty.

✔️ Stock markets experienced high volatility due to shifting trade policies. ๐Ÿ“Š 

✔️ U.S. companies faced higher production costs due to expensive Chinese imports.

๐Ÿ’พ Impact on Key Industries

✔️ Semiconductors & Tech: U.S. restrictions on Huawei & Chinese tech firms affected global semiconductor supply chains. ๐Ÿ’ป⚡ 

✔️ Automobiles: Tariffs on car parts raised production costs for automakers in the U.S., China, and Europe. ๐Ÿš— 

✔️ Agriculture: China cut imports of U.S. soybeans and pork, hurting American farmers. ๐ŸŒพ๐Ÿท



https://www.reuters.com/markets/europe/global-markets-view-europe-2024-11-26/


๐Ÿ”ฎ 5. Biden vs. Trump – What’s Next for U.S.-China Trade Relations?

With Joe Biden taking office in 2021, many expected a softer approach to China—but the trade war didn’t end.

๐Ÿ” Biden’s Trade Policy vs. Trump’s

✔️ Biden kept most of Trump’s tariffs in place but focused more on building alliances with Europe & Asia to counter China.

✔️ Tech Restrictions Expanded – The Biden administration tightened semiconductor and AI export controls, limiting China’s access to critical technology.

✔️ Tariffs + Diplomacy Approach – Biden used tariffs as leverage while negotiating with China, rather than escalating trade war tactics.

๐Ÿ› What Would a Second Trump Term Mean for U.S.-China Trade?

Trump's second term in office in 2025, we could see:  

✔️ Even higher tariffs on China. ๐Ÿ“ˆ 

✔️ More aggressive trade restrictions on Chinese tech. ๐Ÿ’พ 

✔️ A full-scale economic decoupling between the U.S. and China. ๐Ÿšซ


https://www.bbc.com/news/articles/cm2y811g1dgo



๐Ÿ“ข Final Thoughts: Trade War or Economic Strategy?

Was Trump’s trade war a necessary move to protect U.S. interests, or did it create unnecessary economic turmoil? The debate continues.

What do YOU think? Was the trade war good or bad for the global economy? Drop your thoughts below! ⬇️๐Ÿ’ฌ

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