Trade Wars

Tariffs are a central tool in trade wars, used to raise the cost of imported goods and exert economic pressure.

During the U.S.-China trade war that began in 2018, the United States imposed tariffs on over $360 billion worth of Chinese goods, while China retaliated with tariffs on approximately $110 billion of U.S. exports.

Tariff rates ranged from 10% to 25% on items such as electronics, machinery, soybeans, and automobiles.

These measures led to significant shifts in global trade flows, supply chain disruptions, and an estimated cost to U.S. businesses and consumers of over $80 billion between 2018 and 2021.