Question 2
(a) Analyse what triggered President Trump in the U.S. in 2018
to impose protectionisitic tariffs...
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Economics
Question 2
(a) Analyse what triggered President Trump in the U.S. in 2018to impose protectionisitic tariffs on China, Mexico, Canada and theEuropean Union.
(b) Discuss, with an appropriate diagram, how the U.S.-Chinatrade war led to economic inefficiencies.
(c) Discuss how China as the Factory of the World is based onits comparative advantage while the U.S. loses its competitiveness.
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Answer to Option AThe trump administration decided in around May 2018 to imposeheavy tariffs on China Mexico Canada and the European Union as itbegan realizing that it was over dependent on these countries forraw materials which were critical to the countryAnd while it was still procuring these raw materials at anincreased overall price the other countries in question wouldoften charge America with high tariffs on imports This led tofiscal imbalance in the countryIndustries such as weapons heavily rely on imported steel and inthe absence of local support the Trump administration found thatit would not be possible for America to
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