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Not all American tariffs are created equal
Unlike Trump’s policies, the Biden trade strategy aims to build domestic industrial capacity and could be good for US allies.
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Unlike Donald Trump, US President Joe Biden isn’t stopping with the tariffs. Nor is this White House aiming to go it alone.
PHOTO: REUTERS
Rana Foroohar
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There are different kinds of Americans. And there are different kinds of tariff strategies. That’s the key message to take away from President Joe Biden’s new import duties on various Chinese goods.
Trump used tariffs as a blunt tool in a single-prong strategy to reduce the US trade deficit with China, but for Mr Biden they are part of a much broader plan. This aims not only to tackle Chinese mercantilism, the global economic and political fallout from it and the failure of the existing trade system to address it, but also to expand capacity in key areas like semiconductors and clean tech.
