A skeletal review of the Sino-U.S. “trade war”: contentious issues, trade multilateralism and policy recommendations

ABSTRACT

The recent US trade policy change during the past two years has given rise to a series of trade frictions between the U.S. and many other countries. The Sino-U.S. trade war is probably the most intense and significant aspect of these trade frictions. While the U.S. resorts to trade protectionism and unilateralism in pursuit for a fair trade order, China tries to set up an image of a defender of trade multilateralism centered on the WTO. Neither the U.S. nor China will benefit from the trade war. While the U.S. would suffer from erosion of its leadership and credibility, China would face immense difficulty in the future if the persistent global concerns over its economic model remain unaddressed. The trade war necessitates the international community to reflect on the notion of a fair trade order and to take measures to realize it.

RÉSUMÉ

Le changement de politique commerciale des États-Unis au cours des deux dernières années a entraîné une série de frictions commerciales entre les États-Unis et de nombreux autres pays. La guerre commerciale entre la Chine et les États-Unis est probablement l'aspect le plus intense et significatif de ces frictions. Alors que les États-Unis recourent au protectionnisme commercial et à l'unilatéralisme pour obtenir un ordre commercial équitable, la Chine tente de se donner une image de défenseur du multilatéralisme commercial centré sur l'OMC. Ni les États-Unis ni la Chine ne tireront profit de la guerre commerciale. Tandis que les États-Unis souffriraient de l'érosion de leur leadership et de leur crédibilité, la Chine devrait faire face à d'immenses difficultés à l'avenir si les préoccupations mondiales persistantes quant à son modèle économique restaient sans réponse. La guerre commerciale exige que la communauté internationale réfléchisse à la notion d'un ordre commercial équitable et prenne des mesures pour le réaliser.

KEYWORDS:

• China–US Relations
• WTO
• fair trade
• multilateralism
• unilateralism

Disclosure statement

No potential conflict of interest was reported by the authors.

Notes on contributors

Manjiao Chi is Professor and Founding Director, Center of International Economic Law and Policy (CIELP), Law School, University of International Business and Economics (UIBE), People’s Republic of China.

Liang Qiao is junior research fellow at the Center of International Economic Law and Policy (CIELP) and JM Candidate, Law School, University of International Business and Economics (UIBE), People’s Republic of China.

Correction Statement

This article has been republished with minor changes. These changes do not impact the academic content of the article.