Sino U.S. Trade War: Settling the US-China Trade War from the Perspective of International Organization and Regulation

Research Article
Open access

Sino U.S. Trade War: Settling the US-China Trade War from the Perspective of International Organization and Regulation

Hanyi Wang 1* , Tianjian Li 2 , Xintong Cai 3
  • 1 Arlington Catholic High School, 16 Medford St. Arlington, MA 02474    
  • 2 College of Art and Science, New York University, New York, New York 10012, United States    
  • 3 Shanghai American School, 258 Jinfeng Rd, Min Hang Qu, Shang Hai Shi, China, 201106    
  • *corresponding author tl3116@nyu.edu
Published on 27 April 2023 | https://doi.org/10.54254/2754-1169/6/20220180
AEMPS Vol.6
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-23-2
ISBN (Online): 978-1-915371-24-9

Abstract

In this intensifying Sino U.S. trade war, only a sound multilateral trading system can promote the economic development of countries in the context of globalization. In addition to avoiding deeper and broader political confrontation, China and the U.S., which will inevitably have various frictions and disputes in the future, should use international law and international rules to deal with complex international trade disputes. Beyond that, recourse to the WTO dispute settlement mechanism is a key step in resolving the Sino U.S. trade dispute, which requires that we first get the Appellate Body back up and running. Given the lengthy nature of the reform, changes to the consensus rule around the U.S. first should be an alternate solution to reinstate the Appellate Body in the short term.

Keywords:

Sino US trade war, international law, appellate body, multilateral dispute settlement mechanism, WTO

Wang,H.;Li,T.;Cai,X. (2023). Sino U.S. Trade War: Settling the US-China Trade War from the Perspective of International Organization and Regulation. Advances in Economics, Management and Political Sciences,6,403-419.
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References

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Cite this article

Wang,H.;Li,T.;Cai,X. (2023). Sino U.S. Trade War: Settling the US-China Trade War from the Perspective of International Organization and Regulation. Advances in Economics, Management and Political Sciences,6,403-419.

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Volume title: Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 2

ISBN：978-1-915371-23-2(Print) / 978-1-915371-24-9(Online)
Editor：Javier Cifuentes-Faura, Canh Thien Dang
Conference website: http://www.icftba.org
Conference date: 16 December 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.6
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

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[2]. Guy Taylor, Bannon storms Japan, bashes U.S. 'elites' for bungling rise of China[N]. The Washington Times, November 15, 2017.

[3]. Vander, M. E. and Shepherd, B. " Services Trade, Regulation and Regional Integration: Evidence from Sectoral Data." the World d Economy, 2013, 36(11),

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[27]. Iloani, Francis Arinze. “Explainer: How Veto Power Works in WTO Decision Making.” Dubawa, November 4, 2020. https://dubawa.org/explainer-how-veto-power-works-in-wto-decision-making/.

[28]. Aarup, Sarah Anne. “'All Talk and No Walk': America Ain't Back at the WTO.” POLITICO. POLITICO, November 24, 2021. https://www.politico.eu/article/united-states-world-trade-organization-joe-biden/.

[29]. “WTO Reform: The Beginning of the End or the End of the Beginning?” WTO Reform: The Beginning of the End or the End of the Beginning? | Center for Strategic and International Studies. Accessed July 21, 2022. https://www.csis.org/analysis/wto-reform-beginning-end-or-end-beginning.

[30]. Haotian Ding, et al."Discussion on Feasible Strategies of China's Trade War between China and the United States".Proceedings of 2019 International Conference on Global Economy and Business Management(GEBM 2019).Ed.. Clausius Scientific Press,Canada, 2019, 184-187.

[31]. Joshi Ashish B.,and Perin Marina."United States – China trade War and its effects on Global Economy." International Journal of Management Studies VI.1(4)(2019). doi:10.18843/ijms/v6i1(4)/08.

[32]. Kalsie Anjala,and Arora Ashima."US–China Trade War: The Tale of Clash Between Biggest Developed and Developing Economies of the World." Management and Economics Research Journal 5.(2019). doi:10.18639/merj.2019.956433.

[33]. Liu Kerry."China’s Policy Response to the Sino US Trade War: An Initial Assessment."The Chinese Economy 53.2(2020). doi:10.1080/10971475.2019.1688003.

[34]. Weihuan Zhou,and Henry Gao."US–China Trade War: A Way Out?." World Trade Review.(2020). doi:10.1017/s1474745620000348.

[35]. Law.duke.edu. 2022. GATT/WTO. [online] Available at: <https://law.duke.edu/lib/research-guides/gatt/> [Accessed 22 July 2022].

[36]. Wto.org. 2022. WTO | Disputes - Dispute Settlement CBT - The process - Stages in a typical WTO dispute settlement case - Flow chart of the Dispute Settlement Process - Page 1. [online] Available at: <https://www.wto.org/english/tratop_e/dispu_e/disp_settlement_cbt_e/c6s1p1_e.htm#:~:text=There%20are%20three%20main%20stages,by%20the%20losing%20party%20to> [Accessed 22 July 2022].

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[42]. Reinbold, B. and Wen, Y. (2021) Understanding the roots of the U.S. trade deficit: St. Louis Fed, Saint Louis Fed Eagle. Federal Reserve Bank of St. Louis. Available at: https://www.stlouisfed.org/publications/regional-economist/third-quarter-2018/understanding-roots-trade-deficit (Accessed: November 28, 2022).

[43]. PIIE. 2022. US-China Trade War Tariffs: An Up-to-Date Chart. [online] Available at: <https://www.piie.com/research/piie-charts/us-china-trade-war-tariffs-date-chart> [Accessed 22 July 2022].

[44]. PIIE. 2022. US-China Trade War Tariffs: An Up-to-Date Chart. [online] Available at: <https://www.piie.com/research/piie-charts/us-china-trade-war-tariffs-date-chart> [Accessed 22 July 2022].

[45]. Harvard Business Review. 2022. A New Approach to Rebalancing the U.S-China Trade Deficit. [online] Available at: <https://hbr.org/2021/12/a-new-approach-to-rebalancing-the-u-s-china-trade-deficit> [Accessed 22 July 2022].

[46]. Ft.com. 2022. China paid record $22bn in corporate subsidies in 2018. [online] Available at: <https://www.ft.com/content/e2916586-8048-11e9-b592-5fe435b57a3b> [Accessed 22 July 2022].

[47]. Council on Foreign Relations. 2022. U.S.-China Trade War: How We Got Here. [online] Available at: <https://www.cfr.org/blog/us-china-trade-war-how-we-got-here> [Accessed 22 July 2022].

[48]. Harvard Business Review. 2022. A New Approach to Rebalancing the U.S-China Trade Deficit. [online] Available at: <https://hbr.org/2021/12/a-new-approach-to-rebalancing-the-u-s-china-trade-deficit> [Accessed 22 July 2022].

[49]. PIIE. 2022. US-China Trade War Tariffs: An Up-to-Date Chart. [online] Available at: <https://www.piie.com/research/piie-charts/us-china-trade-war-tariffs-date-chart> [Accessed 22 July 2022].

[50]. Data.worldbank.org. 2022. Tariff rate, applied, weighted mean, all products (%) | Data. [online] Available at: <https://data.worldbank.org/indicator/TM.TAX.MRCH.WM.AR.ZS> [Accessed 22 July 2022].2

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