Protectionism and Free Trade Policy in Contemporary China-US Foreign Trade Relations
The strengthening of China's economy in the past decade is forcing the United States to fight more actively to retain the world leadership, both economic and political. The United States have chosen protectionism as one of the ways to combat Chinese expansion in foreign trade, despite the fact that for several decades it had been the initiator of agreements and treaties on free trade in foreign trade relations. At the same time, since the end of the last century, China has been steadily declaring its commitment to an open economy policy, working out longterm plans to expand the openness of the Chinese market and develop market potential, and making strategic decisions on building new trade partnerships. The confrontation between the two strongest economies in the world during the Trump administration has reached a state of trade war. In the context of the globalization of world economic ties, the strengthening of the interconnection and interdependence, other national economies will inevitably be involved in the American-Chinese confrontation, and the higher the level of economic development of the country is, the more profound the consequences will be. Whether they will be destructive for some economies or they will lead to regionalism or they will create a new architectonics of global economic relations are debatable questions, but it is highly likely that we are witnessing a fundamental shift in the world economy. The article examines the protectionist measures taken by the US President D. Trump’s administration and their consequences in the short term for the American people, as well as the impact of the change in the American foreign trade course on the Chinese economy in the context of globalization of world economic ties.