Understanding the US-China Tariff War: Causes & Consequences

Chit & Chat

What sparked the US-China tariff war, and what does it mean for the global economy? In this video, we break down the origins, key events, and long-term implications of the trade conflict between the world’s two largest economies. From rising tariffs and retaliations to supply chain disruptions and shifting alliances, understand how this economic standoff affects businesses, consumers, and international trade. Whether you're a student, investor, or global affairs enthusiast, this video offers a clear and concise overview of one of the most impactful trade disputes of our time.

Transcript

00:00hello guys welcome back to our youtube channel chit and chat today we are going to talk about

00:05us versus china tariff war so ankit what what do you take on the tariff war so it's not happening

00:12right now it was already exploited in 2018 as we all know when trump was leading his government

00:18in 2018 they implemented they imposed some kind of tariff on the chinese goods somewhere china

00:24was not happy and agree on that tariff i think that that that is that was the first warning from

00:28the trump side like in his first term if you see that so he he has already imposed the tariff on

00:36the china so they have already won that and i think the reason behind that that because they had some

00:42kind of uh intel that they are stealing the technology from us that's why they imposed

00:49that tariff on the chinese side and now we can see the impact that the both countries had big dent

00:56on their end we can see that like the chinese chinese are very developing rapidly so that's why

01:03trump imposes that tariff because the tariff are very high if you see that 145 tariff on a on a country

01:10or on an immediate effect so it will be a very big impact i'm strongly agree with you this point the

01:16tariff is 145 is very high tariff but somewhere chinese was already aware about this thing they had

01:23a little bit hint of this tariff that's why they were already pre-planned uh they were already uh

01:29settled for this thing they already made their mind in 2018 if this is going to happen again in the

01:34future from the u.s government side so we'll gonna i will be all set for that thing because they are a

01:40developing country they are the manufacturer they are uh they are they are good in the export for the

01:47all countries so they are all set for this tariff that's why they are dominating in this in this

01:51trade war yeah we have we have seen that the chinese has uh openly come up on the social media

01:55and they are showing that you can buy product from directly from us so we have seen that on the social

02:01media their diplomats are also saying that we are ready for the war uh we can like if we we will not

02:06include the us into the market side but there are all the words we can cover it like there are other

02:12countries we can export our why they are saying this because till 2018 the hundred out of hundred or

02:17hundred percent of export they were they were doing 20 business with us export business which was the

02:23high ratio yeah now they have diverted their export business with other countries so if us will not

02:30take the part with if us will not trade with them so that's not a big deal with them it's it's only two

02:35percent of their current gdp they can cover it uh in the next year next 10 years easily they can cover

02:41it from the next 10 years if they will not export their goods to us so they will export to the other

02:46country they will cover up that gdp part from the other countries i already told you they were

02:51already planned they were already ready for this war they knew that this is going to happen again

02:55in the future and they were already they made their mind it was pre-planned from there and and that's

03:01why they're dominating if we see the other side from the u.s side they are not ready for the import side

03:06if you see that they are continuously uh purchasing the goods from the china and and this uh other side they

03:13are uh imposing the tariff on the china so it's it doesn't seems like that they are ready for that

03:19what happened in this trade what the u.s citizens are not happy the reason behind that because they

03:24have seen the uh reality of the trade if you are making product in a x dollar like in a five dollar

03:31you are getting that product from china from five dollar and you're selling in that product in u.s

03:35and hundred dollar yeah so somewhere citizens are not happy and i have seen soon a few news that the

03:42from the u.s government there are few diplomats who are doing argument with elon musk and the

03:47uh trump's lawyers so there is the the debate is also going on there i think market has been shaken

03:53up from the u.s side if you see that the stock market has been shaken up the prices of the goods

03:58in the u.s has been increased increased so i think the boss if you see the impact of the both

04:04side and the china side is as well as the u.s side like biggest impact in this trade war which

04:10happens so far the trillions of dollar has been wiped out from the share market from the stock

04:15market yeah so both countries uh have some dent on their end yeah if you see the chinese side they

04:21have huge impact in the export side because the u.s is a big market from them and they are openly

04:26saying that we will impose that tariff to you and they cannot export their goods to the u.s and if you

04:32see on the u.s side the prices are very high of the goods stock market has been shaken up as you

04:39as you mentioned that the there are trillions of dollars have been wiped out from the stock market

04:44so which industry do you think that hit hardest in the u.s i think agriculture and the manufacturing side

04:52and the retailing side because china was doing trade with us in agriculture yeah so now that has been

04:57been stopped from there and second thing now their consumers are aware about the pricing yeah and how

05:04many dollars they have spent on the very basic things i think consumers are okay with that if you

05:10are making the goods on the hundred dollar we do not care about that but the prices are high they they

05:14are angry on that you can say that angry is not a good word i know that but we can be satisfied they

05:20are dissatisfied yeah dissatisfied with the with the government like you are increasing the tariff but the

05:24prices are high of free brands and goods so that that is the thing if we can say that but do you

05:30think that the tariff uh as trump uh imposes the tariff on the china uh he has the other plan like

05:37he can implement other things on them yeah now instead of the tariff they have made a u-turn on

05:41this tariff now they are going to make a deal with china if you have seen in the news now they are saying

05:46that we are going to do a mutual deal where both countries have benefits from this trade so now i think

05:53they have realized what they have done so far and this tariff for the tariff was very high so i think

05:58there will be a mutual deal between both of the countries i believe that china is dominating in this

06:04tariff war so in the retaliation what us can do like they can uh allow to the other countries uh if

06:12the china is saying that we we will export we will exclude the us into the market and we will export our

06:17product to the other countries so what u.s can do that u.s can do the same thing to uh to the china

06:23u.s will allow to the other country and say that manufacturing this thing from us if the china is

06:28exporting it's already happening in the news if it's already happening in the world the other

06:32countries have opened up their gates for the uh u.s market they are saying we will be a manufacturer

06:38if the president will say it on the like the national television and allows us to the other

06:44countries they will manufacture from the goods from them so it will be competition for the china

06:49so currently china is dominating into the market but once the competition will generated into the

06:54whole world like the competition also the china domination will be decreased i am totally agree

06:59with this is already happening in the market the other countries are approaching to the us that

07:03we can do manufacturing as you mentioned that on the agriculture side i believe that india

07:08make the huge impact on the agriculture side if they china is also taking advantage of this thing

07:13they are also reaching out to the other countries for the agriculture and for the other goods

07:17and now what we can see the european market asian market has opened up their gates for the both of

07:21countries if you need anything for us if you need manufacturing we can do that for china if you need

07:26any agriculture or defensive help we can do that so i think i believe that it's my point of view like

07:32that if like we can create a competition for the china so it will be a great opportunity for the other

07:37country as well as there will be a friendly nature us with the other countries definitely so that's my

07:43point of view and who will ultimately won that trade war i don't think so there is a any win and lose in

07:50this game i think this is this is the policy which needs some kind of recorrection in this policy in this

07:56trade war and i hope trump will gonna make a good deal with the chinese i think we have already seen that

08:02uh trump has u-turn take a step back they have already made the u-turn so they'll gonna

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