Tag: Economics

This article discusses the ongoing trade tensions between the U.S. and China, which began during the Trump administration and continued under President Biden. Commerce Secretary Gina Raimondo’s recent visit to Beijing highlighted the need for a reset in U.S.-China economic relations. The article criticizes the Trump administration’s decision to impose tariffs on Chinese goods, a move that was later supported by President Biden. This trade war has not been beneficial for the U.S., with the New York Federal Reserve estimating that the tariffs increased costs for average American households by about $830 annually. The article points out that while the Chinese Communist Party is partly to blame for the strained relations, U.S. policies have also contributed to the problem. The Trump-Biden approach to China has been described as “reflexively hawkish” and “economically illiterate.” The article suggests that the U.S. should reconsider its tariffs, reauthorize the Generalized System of Preferences, and join the Comprehensive and Progressive Trans-Pacific Partnership. It also emphasizes the importance of immigration for the U.S. tech industry and warns against excessive regulations on American tech giants. The article concludes by advocating for a return to America’s traditional strengths, including openness to international trade and immigration.

Packard, Clark, and Scott Lincicome. “It’s Time to End the Trump-Biden Trade War with China.” The Bulwark. https://plus.thebulwark.com/p/time-to-end-trump-biden-trade-war-with-china.