ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Trade war
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A misallocation of recources
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The national security
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The national of domestic jobs
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Detailed explanation-1: -On March 22, 2018, Trump signed a memorandum under the Section 301 of the Trade Act of 1974, instructing the United States Trade Representative (USTR) to apply tariffs of $50 billion on Chinese goods. Trump said the tariffs would be imposed due to Chinese theft of U.S intellectual property.
Detailed explanation-2: -Trump imposed the trade fees in 2018 to shrink the mammoth U.S. trade deficit with China and to compel the Chinese to abandon several unfair trade practices, including coercing American companies into sharing their technology secrets.
Detailed explanation-3: -As expected, the trade war has had the largest impact on imports from China of products hit with the highest US tariffs. US imports from China of goods currently facing a 25 percent duty (Lists 1, 2, and 3) remain 22 percent below pre-trade war levels (figure 2).