US-CHINA TRADE WAR AND ITS IMPLICATION FOR DEVELOPING COUNTRIES; A STUDY OF NIGERIA
NDULUE, Jennifer Chioma , ONOR, Kester, PhD, FOLORUNSHO, Wisdom Oladimej and OLANREWAJU, F. Osasumwen i
Volume 2 Issue 2
Abstract
Trade Wars are subsumed under the idea of protectionism, which entails levying tariffs on imports. Tariffs in theory make locally produced goods less expensive than imported goods, encouraging people to buy them. Without a doubt, the United States of America and China have the world's two greatest economies. They both work at the center of the global industrial supply chain. However, these two economies have been embroiled in a trade war in which both have attempted to destroy the economic supremacy of the other. The effect of the trade war has also moved beyond the boundaries of the United States and China to include developing countries like Nigeria. The paper is a desk study which relies heavily on secondary data, supported by a qualitative review of existing literature. Findings suggest that the USChina trade war will affect developing countries, especially Africa more negatively than positively. Also, the US-China trade war is not only based on United States trying to reduce their trade deficit with China but also reduce their economic influence in the international system. The study recommends that the Nigerian Government must be forwardthinking in policy formulation and implementation to access the future global markets. The Nigerian Government should put in place policies that can protect her local industries so as to improve domestic production. Keywords: Developing countries, Nigeria, Protectionism, Trade war, US-China trade war
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