The Resurgence of Tariffs in US Trade Policy

The resurgence of tariffs under the Biden-Harris administration has raised significant concerns about their economic implications. The administration has maintained and even expanded many of the tariffs implemented by former President Trump, leading to renewed discussions on U.S. tax and trade policy. Economists are alarmed at the potential negative impact on the economy, as tariffs are commonly viewed as tools that could disrupt trade relationships and negatively affect domestic prices. The discussion exemplifies a broader trend where tariffs, once thought to be sidelined except for national security purposes, have emerged again as central to political discourse.