AN INVESTIGATION OF THE IMPACT OF THE RUSSIA-UKRAINE CRISIS ON GLOBAL BILATERAL TRADE BETWEEN US AND EUROPE

Abstract

The issue of the war between Ukraine and Russia has remained a matter of concern and as a matter of fact have become contentious. It has also drawn the attention of various researchers due to the scorching menace that emanates from the war. This study therefore seeks to evaluate the effect of the war on the bilateral trade relationship between the European Union and the     United States with some objectives to guide the general aim. The study employed the archival research design to achieve the objectives while adopting the inductive approach of carrying out research. The data for the study was collected from secondary sources such as journals and other publications such as Bloomberg, google scholar and so on. Due to the nature of the study with respect to its objectives which is qualitative in nature, the qualitative method of data analysis was employed to analyse the data with emphasis on the systematic literature review method which was aided by graphs, charts and tables. The finding of the study revealed that the war between the two countries have done more harm than good to their own economy as well as other economies with emphasis on the trade relationship between European Union and US; it was seen to have a negative implication on the net export, flow of investment and tariff between EU and US among other implications. Based on this, the study recommends that the world authorities should deliberately carry out research and make findings on other methods that can be used to end the war between the countries given its implications on the global economy.

Keywords: Bilateral, Crisis, Global, Economy, Investment, Trade, War, European, Russia, Ukraine.

DOI: 10.7176/IAGS/98-04

Publication date: March 31^st 2023