US tariffs under Trump and Biden: economic impact and contradictions

During Donald Trump's presidency, he implemented tariffs on 70% of Chinese imports, as well as new duties on steel, aluminum, and washing machines. These protectionist measures were part of a broader strategy that Trump claimed would benefit American workers and industries. However, the reality has been more complex, as these tariffs have led to increased costs for consumers and businesses alike. The economic impact of these tariffs has raised concerns about their effectiveness in achieving intended goals. President Biden has continued this trend of protectionism, albeit with a different approach. His administration has maintained many of the tariffs established during Trump's term, reflecting a bipartisan consensus on the need to protect American industries. However, this has also resulted in ongoing trade tensions, particularly with China, which could escalate further. The potential for retaliation from trading partners looms large, as both Trump and Biden's policies have sparked fears of a trade war. Trump's proposal for a sweeping 10% global tariff and a possible 60% duty on Chinese goods could exacerbate these tensions, leading to a breakdown in international trade relations. The World Trade Organization may face significant challenges as a result of these escalating conflicts. Ultimately, the use of tariffs by both administrations highlights a contradiction in U.S. economic policy. While aimed at protecting American interests, these measures have often harmed consumers and businesses, undermining the country's economic leadership on the global stage.