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Since China joined the WTO in 2001, its trade surplus with the United States has continued to increase. The United States believes that the huge trade deficit affects US employment and the US economy. From the start of the "301 Investigation" by the United States in 2017 to the announcement of the results of the "301 Investigation" in 2018, the trade war ceased and lasted for two years. This article uses the event analysis method to study the impact of various events in the Sino-U.S. trade war on China's various industry indexes. The results found that: (1) The Sino-U.S. trade war has mostly a negative impact on China's industries, and negative news has a great impact on the market. The market is more sensitive to negative news. (2) For most industries in China, the Sino-U.S. trade war cause large short-term impact, that is, all industries except pharmaceutical and biological industries have at least one negative significant one day before and after the change. In the medium term, this effect is weakening, but in the long run, it still has a significant negative impact on most industries. (3) There are several key events in all events of the Sino-U.S. trade war. These three events have made almost all the industry indexes in China appear negatively significant. They are the results of the "301" survey published by the United States on March 22, 2018.On June 15, 2018, the United States announced the "301 Investigation" tax list. On May 6, 2019, Trump announced on Twitter that it would raise taxes on US$200billion of Chinese goods from 10% to 25%. (4) The Sino-U.S. trade war has different effects on different industries. High-tech, technology-based industries have been most affected, that is, electronic components, communications, and computers have suffered the most longterm impact. |