United States

The constant pulse between the Trump Administration and China on account of trade tariffs has triggered the troubled waters alarm in world trade.

Economists remember that in 1930, Congress did not take into account the advice of economists who urged them to reject the Hawley-Smoot Act.

It is true that Donald Trump's economic policy has turned towards the rich and seems incoherent, but it is linked to the traditional protectionism of the USA in the history.

Rarely has a political decision been as visibly idiotic as Donald Trump's protectionist measures on customs fees.

The trade surplus in favour of China would be directly hit by a protectionist escalation between the two largest economies in the world.

Fighting against the threat of losing global hegemony against China, the US government has come to question free trade.

For a long time, tariffs were the most common protectionism instrument.

"A commercial war is always a lose-lose situation"

The administration of the president Trump who has been protectionist since the very beginning has gone from theoretical to practical.

The different issues considered in the present work lead to at least five major conclusions, which we will explain below. The first conclusion has to do with the historical nature of the crisis and its depth.

In the past decade, the world has seen an unprecedented flow of capital into emerging market debt and infrastructure projects incentivised by the abnormal increase in money supply and low rates in the US.