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Cato Daily Podcast
Trump and Biden Aren't Free Traders, so What's the Difference?
May 6, 2024
Exploring similarities and differences in trade policies between Trump and Biden, especially focusing on tariffs and protectionism. The implications for international trade and high-tech manufacturing are discussed, highlighting the complex nature of bilateral agreements and global competitiveness.
13:26
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Quick takeaways
- Both Trump and Biden share protectionist tendencies, with Biden opting for subtler strategies than Trump.
- Biden intensifies protectionism through subsidies and local content rules, while Trump advocates for universal tariffs.
Deep dives
Comparison of Trade Policies Between Trump and Biden
Both Donald Trump and Joe Biden have not shown significant variance in their trade policies, with Biden's administration following a notably quieter path similar to Trump's protectionist strategies. The USMCA, replacing NAFTA, has prompted concerns about Chinese content within Mexican exports to the US, potentially leading to tariff threats from both administrations. Despite differing rhetoric towards China and varying tariff proposals, the fundamental stances show a shared skepticism towards trade openness.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode