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Trade War May Have More Negative Impacts on US and Global Economy

2019-06-17 来源: 51due教员组 类别: Essay范文

下面为大家整理一篇优秀的essay代写范文- Trade War May Have More Negative Impacts on US and Global Economy,供大家参考学习,这篇论文讨论了贸易战的负面影响。2018年初以来,特朗普总统对从中国、欧洲、墨西哥、加拿大等国进口的钢铁和铝征收了一系列关税。这样的关税引发了世界上最大的两个经济体之间的美中贸易战,并在全球引起轩然大波。其中,在进口钢铁和铝的价格由于增加关税,原材料价格的上涨将导致汽车等产品的价格上涨。因此,当美国汽车变得更加昂贵,他们最终将失去他们的国际竞争力。

Trade War,贸易战,essay代写,作业代写,代写

The article “Trade war—Tariffs on steel and aluminum are creating some winners” discusses the impacts of Trump’s new tariff policies on the US and global economy. Since the beginning of 2018, President Trump initiated a series of tariffs on the imports of steel and aluminum from China, Europe, Mexico and Canada etc. Such tariffs trigger the US-China Trade War between the world’s two largest economies and cause an uproar across the globe. According to the article, President Trump believed that the tariffs policy could effectively increase the size of the US economy, such as the level of GDP, and decreasing domestic unemployment rate. After enacting the tariffs policy, Trump even bragged on Twitter, tweeting that “Plants are opening all over the US, Steelworkers are working again, and big dollars are flowing into our Treasury” (p.1). However, I disagree to Trump’s claims on the effects of tariffs because firstly, based on the demand and supply model, the tariffs will directly increase the prices of steel and aluminum, which then leads to the decrease of the demands for these materials. Secondly, based on the tax incidence model, the tariff burden will finally fall on the producers and citizens.

First of all, based on the demand and supply model, the tariffs will directly increase the prices of steel and aluminum, which then leads to the decrease of the demands for these materials. Just as the article suggests, due the price elasticity, “in the long run higher prices could encourage a switch to different materials” (p. 4). For example, after the prices of imported steel and aluminum increased due to the tariffs, US producers would shift their demands of expensive steel and aluminum to cheaper glass and plastics and so on. In then end, the US steel and aluminum industry will face a bigger problem. Moreover, higher prices of materials will then cause the price increase in products such as automobiles. As a result, when US automobiles become more expensive, they will finally lose their international competitiveness.

Secondly, based on the tax incidence model, the tariff burden will finally fall on the producers and citizens. In other words, tariffs, another type of taxes, will have negative impacts on people’s life after the increase of product prices. Just as the article unveils, “It had previously reported that tariffs had raised its costs by around $15m in the second quarter of 2018” (p.4). The $15m will finally fall in to the prices of products, so the customers will be the ones who ultimately bear the entire burden of tariffs. As a result, the tariff polices hurt US citizens’ interests and benefits.

All in all, I disagree to Trump’s claims on the effects of tariffs because both the theories of demand and supply and tax incidence indicated that Trump’s tariff policy will bring nothing but economic burden to US producers and citizens. In fact, to boost the US economy, a sustainable trade and economic policy should be implemented to replace the tariff policies.

Reference:

“Trade war—Tariffs on steel and aluminum are creating some winners” The Economist. August 9th, 2018.

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