FT News Briefing Swamp Notes: Trading tariffs for votes
9 snips
May 18, 2024 Aime Williams and Brooke Masters dive into Biden's surprising tariff decisions aimed at China, revealing their electoral implications. They discuss how tariffs on electric vehicles may protect jobs yet impact consumer prices in the lead-up to the 2024 election. The discussion also highlights America's preference for domestically-made products and the unexpected political symbolism found in New York's rat control initiative, ultimately reflecting broader urban management challenges.
AI Snips
Chapters
Transcript
Episode notes
Protecting the U.S. EV Industry
- Biden's tariffs aim to protect the U.S. EV industry from being undercut by cheaper Chinese imports.
- This is because Chinese carmakers invested heavily in EVs earlier, giving them a price advantage.
Political Strategy Behind Tariffs
- Biden's tariff strategy has a political angle, aiming to secure votes in swing states by appealing to job concerns.
- By protecting American industries, he hopes to gain support from unions and workers in key electoral areas.
Impact on Different Voter Groups
- Biden's focus on tariffs and protecting domestic industries resonates with a specific subset of voters concerned about jobs.
- However, the impact on environmentally conscious voters, who may see tariffs as hindering the green transition, is uncertain.