ABSTRACT
The scale of the trade war is unprecedented, as a major part of their mutual exports has been put under the “fire” of special tariffs. The ramifications of the trade war on the American and Chinese economies differ, because of the size and structure of their trade and economies. For the former, it is mainly from the “import direction”, as reflected in the rising price of imported goods and reduced consumer welfare. The China–US trade war is undoubtedly a major trade and economic clash between the world’s first and second largest economies. This unprecedented clash has been taking place between an incumbent superpower and an emerging “superpower” of great cultural and ideological differences. The current troubles facing China and the United States stem from the dissatisfaction and uneasiness of the United States about the status quo, as well as its intentions and actions to try to change it.
