This proposal must include: a link to the data source, an explanation of what you want to show, why this is relevant to a current policy, business, or justice issue, and which technologies you plan to use. Your instructor must approve this proposal: you may have to refine this somewhat. You will present your final project during our last meetup.
In 1979, U.S. and China reestablished diplomatic relations, and signed a bilateral trade agreement(Nagashybayeva 2019). China is one of the largest partners of the U.S. , followed by Mexico and Canada. In July 2018, the former U.S. president Trump placed tariff on around $550 billion of imports from China that including cars, hard disks and aircraft parts. China also retaliates by imposing tariff on 545 goods originating from U.S. that worth $185 billion, and the situation has not improved significantly until March 2022 (Mullen 2021). Biden administration has come under pressure from lawmakers, and the business community saying that the tariffs were hurting American companies and consumers.Key business leaders have express frustration with the trade policy and urge the administration to drop the Chinese tariffs and provide more clarity about economic engagement between the world’s biggest economics(Ngo 2022). On March 23rd, Biden administration finally announced that it will reinstates 352 of the 549 eligible exemptions, keeping them in place through end of 2022(Ngo 2022).
The project will focus on visualizations and explanatory analysis. The visualization will be presented with the R package - ggplot2. therefore, the analysis will be done by the program language R as well.
The dataset is obtained from the United States Census Bereau, and will be uploaded to my github storage for easy access. There are two datasets will be used in this analysis, the “Trade in Goods with China” data (https://www.census.gov/foreign-trade/balance/c5700.html), and the “U.S. International Trade in Goods and Services” data(https://www.census.gov/foreign-trade/Press-Release/current_press_release/index.html)
“Trade in Goods with China” data has the historical record of import, export and balance for both and China and U.S. It allows me make visualizations of the trend of trading for both countries, also can observe the trade deficit or trade surplus from the trade. The “U.S. International Trade in Goods and Services” data categorized the commodities in to 6. The categorized variables are including Foods&Beverages, Industrial Supplies, Capital Goods, Automotive Vehicles, Consumer Goods, Other Goods. From these record, the graph can provide the information of what category of the goods do U.S. and China relies on each other the mostly. Compare the degree of goods that China relies on U.S. and the items that exempted by Biden Administration,it is able to find out weather the new tariff exemptions from Biden Administration on Chinese goods can really solve the problem of international trade beteen U.S. and China.
The Object of this project is analyze and present the meaningful insight of the international trade relationship between U.S. and China, and the current trading situations.
Present the historical to current import, export, and trade balance graph to analyze if the section 301 (tariff on Chinese goods) effective or not.
present the import and export categories with China to verify what categories of product do U.S. trade with China.
Present the historical to current exchange rate, between U.S. and China to compare which country is more beneficial from the trade(the exchange rate is the key of win from trade for China).
Make visualization of the indirectly benefited country - Mexico (Mexico benefited indirectly from the trade war between U.S. and China, since Mexico can be a good alternative of China as the manufacture house)
reference :
https://guides.loc.gov/us-trade-with-china
https://www.nytimes.com/2022/03/23/business/chinese-imports-tariffs.html
https://www.census.gov/foreign-trade/balance/c5700.html
https://www.census.gov/foreign-trade/Press-Release/current_press_release/index.html