What art style does this black and white work represent?

Matt correctly identifies the style as High Contrast Art. But following the tag technique-identification - The technique frequently used to create this kind of art is Linocut.

These are very similar to notan drawings. Artists use notan drawings to quickly determine whether or not their finished painting will have an interesting pattern of dark and light values. It is a valuable tool for establishing an interesting composition in a painting. Arthur Wesley Dow wrote about notan in the 19th century. His book is out of copyright available for free download from the Internet. Notan originated in Japanese art.

I would think that this is high contrast art. The variance of dark and light colours is very high in that picture. While this does not fit all the styles linked it fits enough of them.

This is like what you see in the classic Che Guevara graphic.

This effect is not limited to just black and white but excels in using minimal colours.