Looking ahead to 2024, it seems America, as a leader in the global trading system, is heading towards a troubling path. President Biden recently announced plans to impose significant tariffs ranging from 25%-100% on Chinese imports, including electric vehicles and medical supplies. In response, former President Trump threatened even higher tariffs on Chinese cars.
This tariff escalation leaves Biden in a difficult position, as he cannot outdo Trump in this trade war game. While confronting China’s unfair trade practices is necessary, Biden’s approach appears confusing and ineffective. His climate agenda, which includes promoting electric vehicles, may end up pushing production and jobs overseas without a significant impact on climate change.
Biden’s policy decisions seem disjointed and lacking coherence, leading to doubts about their effectiveness. The administration’s use of tariffs, like other policies such as student loan forgiveness, may be more about political posturing rather than genuinely helping the working class.
In the end, these tariffs may benefit powerful interest groups like Big Labor while ultimately causing prices to rise for ordinary consumers. Biden’s attempts to appear as a champion of the little guy seem more like a facade, with policies that have questionable impacts on the everyday Americans he claims to represent.
