Today, Explained
The end of Made in China?
Jun 26, 2024
Katherine Tai, the United States Trade Representative, discusses the Biden administration's strategy on trade with China, shedding light on the recent tariff increases and their economic implications. Dylan Matthews, a Vox correspondent, provides insights on how these changes may impact American consumers and domestic manufacturing. The conversation highlights the shift in U.S. trade policy from free trade principles toward prioritizing domestic workers, raising questions about the future of global commerce and consumer prices.
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Quick takeaways
- President Biden raised tariffs on Chinese imports to address unfair trade practices, aiming for negotiation leverage.
- Biden administration shifts focus to prioritize workers and domestic industries while balancing free trade principles.
Deep dives
The Trade War Between the US and China
President Trump initiated a trade war with China in 2018, imposing tariffs on Chinese goods that led to increased prices on apparel, some food products, and even American flags. China retaliated, particularly impacting American farmers. Despite initial criticism, President Biden maintained most of these tariffs upon taking office and further raised them on certain products, aligning with a strategy focused on addressing unfair trade practices.
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