Study On The Influence Of American Trump's Tax Reform On China And Its Countermeasures

Since the Trump administration came into power in 2017,it has carried out a series of economic reform policies,such as tax cut,interest rate increase and scale reduction,in an attempt to revive the American economy.Among them,one of the most important parts is to reduce enterprise income tax and individual income tax,reforming its international tax policy and tariff trade policy.The US tax reform has exerted a great influence on the world economy and exerted great pressure on China's economic development.How to analyze and deal with this impact to ensure the safe,stable and healthy development of China's economy is a major issue worthy of further study by our government and the business community.This paper attempts to analyze Trump's comprehensive tax reform from both realistic and historical perspectives.Firstly,the main content of Trump's income tax reform and its latest changes in tariff and trade policies are comprehensively interpreted.Then,the enterprise income tax and individual income tax are analyzed concretely.Through reviewing the literature on international tax competition,harmful international tax competition theory and international trade theory,it is pointed out that the essence of the comprehensive tax reform is an international tax competition initiated by the Trump government.In addition,this paper also analyzes the contents,background and effects of the three large-scale tax cuts in the contemporary history of the United States,and compares the changes of the economic and tax policies of the major countries in the world during the three tax cuts in the United States.Finally,on the basis of historical experience,combined with China's current economic situation,international tax background,as well as the possible impact of comprehensive tax reform,China's response to the Trump comprehensive tax reform countermeasures.This paper holds that the essence of the Sino-US tax war and trade conflict is the historical manifestation of the contradiction between the rising socialist powers and the established capitalist countries.It is also the manifestation of the contradiction between the multilateral open system and the anti-globalization unilateralism and trade hegemony.If the United States continues to pursue unilateralism Policy will inevitably lead to unjust cause.At the same time,this article on the three tax cuts in the history of the United States and the revival of the Trump comprehensive tax reform,for the analysis of the history of the United States tax reform and China's response to the Trump tax reform has a special reference.