Trade War of 2018 Summary:

Background:

 Initiated by the United States in mid-2018.

 President Trump's campaign focused on unfair trade and trade deficits.
 Opposition to trade agreements like NAFTA and Trans-Pacific Partnership.

Actions Leading to the Trade War:

 Withdrawal from the Trans-Pacific Partnership in January 2017.

 Launch of investigations into solar panels, washing machines, steel, and aluminum in 2017.
 Temporary safeguard tariffs on solar panels and washing machines in January 2018.

Steel and Aluminum Tariffs:

 March 2018: Investigations on steel and aluminum for national security threats.
 Tariffs imposed in March: 25% on steel imports, 10% on aluminum imports.
 Temporary exemptions for certain countries; later removed in June 2018.
 Retaliatory tariffs from China, EU, Mexico, and Canada.

Economic Analysis and Criticisms:

 Trump's view of trade as zero-sum contradicts economic analysis.

 National security justification questioned by multiple countries.
 WTO complaints filed by Canada, China, EU, India, Mexico, Norway, Russia, and Turkey.

Intellectual Property Front:

 Chinese government's unfair policies on U.S. intellectual property were identified.

 Threats of tariffs on $50 billion of Chinese exports and additional restrictions on Chinese
investment.
 Implementation of tariffs and retaliatory measures between the U.S. and China.

Ongoing Developments:

 Investigation into national security threats posed by automobile imports in May 2018.
 Uncertain outcomes as of the late 2018 text.

Overall Implications:

 Concerns about a potential escalation of the trade war.

 Questioning the benefits of protectionist measures and their impact on global trade gains.