Sunday, March 30, 2025

Biden tariffs

In his first term, Trump's tariffs were an about-face from decades of free trade policy. Economists warned that American consumers would pay the price, U.S. companies complained they would lose money to foreign competitors, and Democrats piled on Trump for a shift they criticized as haphazard. Biden came in and not only kept the tariffs on China but added to them increasing the rate on EV’s to 100%, 50% on solar cells and 25% on EV batteries, critical mineral, steel, aluminum, face masks and ship to shore cranes. The press was quiet. Now Trump is once again increasing Tariffs and the press is speaking out. This back and forth gives the impression that tariffs are more about politics than economics.

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