Friday, February 9, 2024

China

Some say that Biden is beholden to China because of his son's business dealings but the facts belie that. Trump clamored for restrictions against China claiming they used currency manipulation and intellectual property theft to promote unfair trade practices. To counteract these activities Trump installed a 20% import tax on $300 billion dollars of Chinese imports. When Biden took office he retained these tariffs and is now considering additional import taxes. Biden recently stopped the exports of chips to China something they need. The Inflation Reduction Act reduced US dependency on China. Biden is like Trump in that both are pro America and promote de coupling from China. China has many serious problems and losing exports to the US is cause for alarm.

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