Usa

Globalization is the main trend in the development of the entire human civilization. After World War II, the United States played a key role in economic and financial globalization. They are a major initiator, driver, and beneficiary of it, as well as the largest buyers of goods and services in the global market. American companies play a crucial role in shaping global trade. The United States’ “trade wars” with all countries are in opposition to the logic of civilization’s development. The paper discusses the economic consequences during the U.S. “trade war” with China in 2018–2020 and the short-term effects of Executive Order No. 14257 of April 2, 2025 of the President of the United States. The low efficiency of the Tramp’s tariff policy for the country’s industrial development is shown. Tariffs alone will not build the factories needed to increase domestic production. Large private investments plus other industrial policy tools are also needed. As shown in the article, the output of American steel and aluminum in 2018–2021 increased by only 1.9% and 3.6%, respectively, during the “trade war” of 2018–2020. The author focuses on the empirical studies by the US federal governmental agencies such as the United States International Trade Commission (USITC) and the United States Trade Representative (USTR). They and many other researchers have found that the burden of customs duties typically falls on domestic consumers and companies rather than foreign exporters. It may be concluded that there are no conditions for a return to free trade as was during the peak of globalization, as well as no prospects for a significant revival of the American manufacturing industry either

Beneficiary · China · Commission · Goods and services · Opposition (politics) · Order (exchange) · Tariff · Trade barrier · COVID-19, Geopolitics, Technology, Migration · Economic Sanctions and International Relations · Global Political and Economic Relations

• Escalation of Contradictions between China and United States and Prospects for Bilateral Economic Relations

  M Potapov•World Economy and International…•2025

  Add to list

• The Impact of the 2018 Tariffs on Prices and Welfare

  Open Access•Mary Amiti, Stephen J Redding et al.•The Journal of Economic…•2019

  Add to list