Analysis of the Economic Impacts of the China-U.S. Trade War on China and US Economy

The current trade war between China and the United States is the largest trade war on the global market in nearly half a century. The trade war refers to a series of economic and policy clashes between China and the United States in the field of trade since 2018. This trade war was mainly initiated by the United States to reduce the trade deficit between China and United States, protect the U.S. manufacturing industry, and limit the rise of Chinese technology, while involving issues such as intellectual property rights and technology transfer. As the worlds two largest economies, the trade conflict between China and the United States directly affects the trend and stability of the global economy. At the same time, the trade conflict between China and the United States has also had a profound impact on technological innovation in both countries. Through a literature review, this paper comprehensively analyzes the impact of the China-U.S. trade war on the bilateral economy and employment of China and the United States, and discusses the impact of the China-U.S. trade war on the development trend of the global economy. This paper argues that governments should repeatedly study the causes and impacts of the China-U.S. trade war, and realize that the trade war is not desirable, and win-win cooperation is the direction of future development.