Trade War - An Overview
This article provides a detailed and peculiar view about the economic phenomenon ‘Trade war’ and its history from the times of The Great Depressions and moves on to the contemporary U.S.-China trade war and its impact on the global economic scenario. It also provides a wide view of the current scenarios of the ongoing trade war between two major countries that have the most humongous economies in the world that is U.S. and China. The authors have unraveled major information about the first-ever trade war which was started by Reed Smoot and Hawley which is followed by information about the onset of the ongoing trade war of U.S. and China with the major events that followed during ‘Code Red’ which have been discussed in a chronological manner. Following which the authors have enlightened upon the economic position of India along with other countries and subsequently the effects of the Trade war on the Indian economy. The authors have also discussed the limitations of the practice of trade war to an extent.
Trade war, Tariff, Retaliation
K. P. Manish | S. S. Sanjay Krishnan