{"id":154684,"date":"2025-02-07T19:47:37","date_gmt":"2025-02-07T14:17:37","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=154684"},"modified":"2025-02-07T19:47:37","modified_gmt":"2025-02-07T14:17:37","slug":"trump-starts-new-trade-war","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/trump-starts-new-trade-war","title":{"rendered":"US President Trump Starts New Trade War"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The <\/span><b>US trade war with China<\/b><span style=\"font-weight: 400;\"> has escalated after <\/span><b>China retaliated against the 10% US tariff<\/b><span style=\"font-weight: 400;\"> by announcing <\/span><b>retaliatory tariffs on various American goods.<\/b><\/p>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.8996%;\">\n<tbody>\n<tr>\n<th style=\"width: 100%; border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle;\">\n<h2><span style=\"font-size: 18pt; color: #000000;\"><b>Trump\u2019s Trade War with China during his First Term<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">In 2018, Trump initiated a major trade war with China by imposing tariffs on Chinese imports.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">China responded with retaliatory tariffs and the trade war significantly impacted both economies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">It led to increased costs for U.S. consumers and businesses, supply chain disruptions, and contributed to a cooling of the overall U.S.-China relationship.\u00a0<\/span><\/li>\n<\/ul>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>The New Tariff Orders<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On, February 1, USA initially Imposed:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">25% tariffs on all imports from Mexico and Canada<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">10% tariffs on Canadian oil, natural gas, and electricity<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">10% tariffs on Chinese imports<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Although the North American tariffs are temporarily halted, the 10% tariff on China is still set to take effect.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Major reasons for the Tariffs<\/b><\/span><\/h3>\n<ul>\n<li><b>Fulfillment of Campaign Promises: <\/b><span style=\"font-weight: 400;\">Donald Trump had promised during his election campaign to impose import duties on key trading partners like<\/span><b> China, Mexico, and Canada.\u00a0<\/b><\/li>\n<li><b>Boosting US Manufacturing &#038; Jobs: <\/b><span style=\"font-weight: 400;\">Trump argues that tariffs will protect domestic industries from foreign competition.<\/span><\/li>\n<li><b>Raising Tax Revenue: <\/b><span style=\"font-weight: 400;\">Tariffs generate revenue for the government by charging import duties on foreign goods.<\/span><\/li>\n<li><b>Combatting Fentanyl Trafficking: <\/b><span style=\"font-weight: 400;\">The US government claims that<\/span><b> China provides chemicals used to manufacture fentanyl, <\/b><span style=\"font-weight: 400;\">while <\/span><b>Mexican drug cartels<\/b><span style=\"font-weight: 400;\"> and <\/span><b>Canadian labs produce<\/b><span style=\"font-weight: 400;\"> and <\/span><b>traffic the drug into the US.<\/b><\/li>\n<li><b>Economic Pressure on Trading Partners: <\/b><span style=\"font-weight: 400;\">Canada, Mexico, and China together account for over <\/span><b>40% of US imports.<\/b><\/li>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The tariffs serve as a negotiation tool to pressure these nations into better trade agreements that favor the US.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>What is a Trade War?<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A trade war is an economic conflict between two or more countries where they<\/span><b> impose tariffs, quotas,<\/b><span style=\"font-weight: 400;\"> and other<\/span><b> trade barriers<\/b><span style=\"font-weight: 400;\"> on each other&#8217;s goods and services in response to perceived unfair trade practices.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Key Features of a Trade War<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Imposition of Tariffs: <\/b><span style=\"font-weight: 400;\">Countries raise import duties on foreign goods.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Retaliatory Measures:<\/b><span style=\"font-weight: 400;\"> Affected countries impose counter-tariffs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Non-Tariff Barriers:<\/b><span style=\"font-weight: 400;\"> Includes import quotas, subsidies, and regulatory restrictions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Economic &#038; Political Motivations:<\/b><span style=\"font-weight: 400;\"> Often linked to domestic industry protection, job creation, or geopolitical strategies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Disruption of Global Trade:<\/b><span style=\"font-weight: 400;\"> Can lead to supply chain disruptions, inflation, and economic slowdowns.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>Examples of Trade Wars<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>US-China Trade War (2018-2020):<\/b><span style=\"font-weight: 400;\"> The US imposed tariffs on Chinese imports; China retaliated with counter-tariffs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>US-EU Trade Disputes:<\/b><span style=\"font-weight: 400;\"> Over aircraft subsidies, steel tariffs, and digital taxes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Japan-South Korea Trade Dispute (2019):<\/b><span style=\"font-weight: 400;\"> Over semiconductor materials.<\/span><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.8997%;\">\n<tbody>\n<tr>\n<td style=\"width: 102.067%; text-align: center;\" colspan=\"2\">\n<h2><span style=\"font-size: 18pt;\"><b>Advantages and Disadvantages of a Trade War for an Economy<\/b><\/span><\/h2>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.7988%; text-align: center;\">\n<h3><span style=\"font-size: 16pt;\"><b>Advantages\u00a0<\/b><\/span><\/h3>\n<\/td>\n<td style=\"width: 52.2681%; text-align: center;\">\n<h3><span style=\"font-size: 16pt;\"><b>Disadvantages<\/b><\/span><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.7988%;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Protects domestic companies <\/b><span style=\"font-weight: 400;\">from unfair competition<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increases<\/span><b> demand for domestic goods<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Promotes <\/span><b>local job<\/b><span style=\"font-weight: 400;\"> growth<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Improves<\/span><b> trade deficits<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Punishes nation with <\/span><b>unethical trade policies<\/b><\/li>\n<\/ul>\n<\/td>\n<td style=\"width: 52.2681%;\">\n<ul>\n<li><span style=\"font-weight: 400;\">Increases costs and induces<\/span><b> inflation<\/b><\/li>\n<li><span style=\"font-weight: 400;\">Causes <\/span><b>marketplace shortages<\/b><span style=\"font-weight: 400;\">, reduces choice<\/span><\/li>\n<li><b>Discourages trade<\/b><\/li>\n<li><b>Slows economic growth<\/b><\/li>\n<li><span style=\"font-weight: 400;\">Hurts <\/span><b>diplomatic relations,<\/b><span style=\"font-weight: 400;\"> cultural exchange<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<h2><span style=\"font-size: 18pt;\"><b>Impact of the US-China Trade War on Global Economy<\/b><\/span><\/h2>\n<ul>\n<li><b>Global Trade Disruptions: <\/b><span style=\"font-weight: 400;\">Increased tariffs will reduce the trade between the U.S., China, and other nations.<\/span><\/li>\n<li><b>Slower Economic Growth; <\/b><span style=\"font-weight: 400;\">Weaker global GDP growth due to reduced investment and trade.<\/span><\/li>\n<li><b>Market Volatility: <\/b><span style=\"font-weight: 400;\">Stock markets may experience fluctuations due to uncertainty in global trade.<\/span><\/li>\n<li><b>Impact on Manufacturing &#038; Businesses:<\/b><span style=\"font-weight: 400;\"> There will be higher production costs due to tariffs on raw materials.<\/span><\/li>\n<li><b>Consumer Price Increases; <\/b><span style=\"font-weight: 400;\">Tariffs may raise the cost of imported goods, leading to inflationary pressures on consumers.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Previous tariffs led to increased costs for electronics and other consumer products in the USA and across the globe.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Effects on Emerging Markets; <\/b><span style=\"font-weight: 400;\">Export-dependent economies (e.g. India, Southeast Asia, Latin America) may see mixed impacts.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Some will benefit from shifting supply chains; others may face declining demand.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Nations such as India and Vietnam saw increased exports during earlier trade tensions.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Potential Impact of the US-China Trade War on India<\/b><\/span><\/h2>\n<h3><span style=\"font-size: 16pt;\"><b>Positive Impacts<\/b><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Increased Export Opportunities: <\/b><span style=\"font-weight: 400;\">The imposition of tariffs on Canadian, Mexican and\u00a0 Chinese\u00a0 products will provide a competitive edge to Indian products.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">A study by <\/span><b>Oxford Economics<\/b><span style=\"font-weight: 400;\"> found that India was the fourth-largest beneficiary of trade diversions between 2017 and 2023, following Trump\u2019s tariff measures.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The sectors that will likely benefit from the <\/span><b>higher duties on China<\/b><span style=\"font-weight: 400;\"> include <\/span><b>mobiles and electronics, electronic machinery, apparel, leather<\/b><span style=\"font-weight: 400;\"> and <\/span><b>footwear, furniture, pharma<\/b><span style=\"font-weight: 400;\"> and <\/span><b>toys.\u00a0<\/b><\/li>\n<\/ul>\n<\/li>\n<li><b>Diversification of Supply Chains: <\/b><span style=\"font-weight: 400;\">Global companies looking to reduce reliance on Chinese manufacturing may shift their supply chains to India.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">This could lead to increased foreign direct investment (FDI) and the expansion of India&#8217;s manufacturing base.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-textbooks?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Textbooks\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC NCERT Textbooks From PW Store<\/span><\/a><\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>Negative Impacts<\/b><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Risk of Dumping by China: <\/b><span style=\"font-weight: 400;\">With the US market becoming less accessible, China may redirect its surplus goods to India, leading to increased dumping.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">This can hurt domestic industries by undercutting Indian manufacturers.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Uncertainty in Global Trade: <\/b><span style=\"font-weight: 400;\">The unpredictable nature of tariff impositions may create instability for Indian exporters.<\/span><\/li>\n<li><b>Reciprocity Principle &#038; Trade Barriers: <\/b><span style=\"font-weight: 400;\">Trump has hinted at applying the reciprocity principle, which means the US may target India\u2019s tariff structure in response to its own concerns.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">If the US imposes tariffs on Indian exports, sectors like IT services, textiles, and pharmaceuticals could be negatively impacted.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Disruptions in Global Supply Chains: <\/b><span style=\"font-weight: 400;\">The trade war may lead to higher raw material costs for Indian manufacturers relying on Chinese imports, affecting industries such as electronics and chemicals.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Way Forward for India<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Proactive Trade Policy:<\/b><span style=\"font-weight: 400;\"> India should focus on negotiating trade agreements and diversifying export markets.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The India-UAE Comprehensive Economic Partnership Agreement (CEPA), signed in 2022, aims to increase bilateral trade to 100 billion within five years.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strengthening Domestic Industries:<\/b><span style=\"font-weight: 400;\"> To counter Chinese dumping, India must enhance its anti-dumping measures and promote local manufacturing under initiatives like<\/span><b> Make in India.<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">In 2021, India imposed anti-dumping duties on Chinese aluminum products to safeguard local manufacturers.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Leveraging Supply Chain Realignments<\/b><span style=\"font-weight: 400;\">: India should attract companies relocating from China by improving ease of doing business and infrastructure.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Production Linked Incentive (PLI)<\/b><span style=\"font-weight: 400;\"> scheme has successfully attracted global companies like<\/span><b> Apple, Samsung, and Foxconn<\/b><span style=\"font-weight: 400;\"> to set up manufacturing units in India. <\/span><b>Apple<\/b><span style=\"font-weight: 400;\"> now manufactures nearly <\/span><b>14% of its iPhones in India, up from 1% in 2020.<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bilateral Trade Talks with the US:<\/b><span style=\"font-weight: 400;\"> India should engage with the US to ensure favorable trade terms and prevent tariff impositions on Indian goods.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">India and the US have been negotiating a limited trade deal to resolve disputes over tariffs and market access.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.7979%;\">\n<tbody>\n<tr>\n<th style=\"width: 100%; border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle;\">\n<h2><span style=\"font-size: 18pt; color: #000000;\"><b>Key terms associated with the Trade War<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Tariffs: <\/b><span style=\"font-weight: 400;\">A tariff is a tax imposed by a government on imported goods.\u00a0<\/span><\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400; color: #000000;\">Tariffs make foreign goods more expensive, which can reduce demand for imports and protect domestic industries from foreign competition.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><b>Quotas: <\/b><span style=\"font-weight: 400;\">A quota is a limit on the quantity or value of a particular product that can be imported or exported during a given period.\u00a0<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><b>Duties: <\/b><span style=\"font-weight: 400;\">Duties are a broad term referring to taxes or fees imposed on imported or exported goods.\u00a0<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><b>Countervailing Duties (CVD): <\/b><span style=\"font-weight: 400;\">These are tariffs imposed on imported goods that have been subsidized by the exporting country\u2019s government.\u00a0<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><b>Anti-Dumping Duties: <\/b><span style=\"font-weight: 400;\">Anti-dumping duties are tariffs imposed on imported goods that are believed to be sold at unfairly low prices (below their market value or cost of production), often to drive out competition and dominate the market.\u00a0<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><b>Retaliatory Tariffs: <\/b><span style=\"font-weight: 400;\">These are tariffs imposed by one country in response to tariffs imposed by another country.\u00a0<\/span><\/span>\n<ul>\n<li><span style=\"color: #000000;\"><b>Example: <\/b><span style=\"font-weight: 400;\">If the U.S. imposes tariffs on Chinese goods, China might retaliate by imposing tariffs on U.S. goods like agricultural products.<\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Conclusion<\/b><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Currently the global trade environment is volatile, with uncertainty surrounding U.S. trade policies. While India stands to gain from trade diversions, inflation and protectionist measures in the U.S. and EU could still pose challenges for Indian exporters.<\/span><\/p>\n<p><b><i>Ready to boost your UPSC 2025 preparation?<\/i><\/b> <a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\"><b><i>Join PW&#8217;s UPSC online courses<\/i><\/b><\/a><b><i> today!<\/i><\/b><\/p>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6375%;\">\n<tbody>\n<tr>\n<td style=\"width: 111.19%; text-align: center;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Also Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Editorials<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/daily-current-affairs\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Current Affairs<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/quiz\/\" target=\"_blank\" rel=\"noopener\"><b>Daily Current Affairs Quiz<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/mains-answer-writing\/\" target=\"_blank\" rel=\"noopener\"><b>Daily Main Answer Writing<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-previous-year-papers?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Previous+Year+Papers\" target=\"_blank\" rel=\"noopener\"><b>Check Out Previous Years Papers From PW Store<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/upsc-test-series-courses\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Test Series<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-textbooks?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Textbooks\" target=\"_blank\" rel=\"noopener\"><b>Check Out UPSC NCERT Textbooks From PW Store<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-modules?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Modules\" target=\"_blank\" rel=\"noopener\"><b>Check Out UPSC Modules From PW Store<\/b><\/a><b>\u00a0<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US trade war with China has escalated after China retaliated against the 10% US tariff by announcing retaliatory tariffs on various American goods.<\/p>\n","protected":false},"author":11,"featured_media":154660,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[2084],"subject":[2102],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/154684"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/current-affairs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=154684"}],"version-history":[{"count":2,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/154684\/revisions"}],"predecessor-version":[{"id":154688,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/154684\/revisions\/154688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media\/154660"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=154684"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=154684"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=154684"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=154684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}