Unilateral and Bilateral Trade Agreements

Does a trade war benefit economies? Major economies around the world and their trades are based on treaties on which the countries make agreements based on exports and imports. Taking the case of the USA and China, an analysis for the WTO is illustrated. China and the USA are reviewing the trade pacts with each other, owing to a USD 500 billion of trade deficit with China, which the USA wants to address, by planning to reduce the trade to a balance of USD 200 billion within 2020. ¬†Here are a few plans that China and the USA can work…