Analysis of Trade Policies of Trump and Biden: A Protectionist Stance Maintained

The Biden administration’s trade policies have come under scrutiny as they largely preserved the tariffs imposed by former President Trump, causing concerns for industries like Clips & Clamps Industries, a Michigan auto supplier. Despite Trump and Biden’s ideological differences on various issues, they both embraced protectionist trade policies, signaling a continued protectionist stance for the United States. Biden recently announced new tariffs on Chinese electric vehicles and other products in an effort to prevent cheap imports from flooding the market. While trade protectionism has its advantages, it also carries economic risks such as raising costs, provoking retaliation from trading partners, and straining diplomatic relations. The shift towards protectionist policies is driven by the belief that increasing imports, particularly from China, have caused a decline in American manufacturing jobs. Both Trump and Biden have taken steps to address this issue, with Biden favoring subsidies for key industries like chipmaking and EV manufacturing. However, experts warn that these policies could lead to higher inflation and reduced GDP. Overall, the consensus is that a change in U.S. trade policy was necessary, with Trump initiating the shift towards protectionism and Biden continuing the trend.