Despite Election Results, The U.S Will Keep Heavy Tariffs

(AmericanProsperity.com) – Former President Donald Trump imposed a twenty-five percent tariff on steel from foreign imports, which hurt Michigan supplier, Clips and Clamps Industries. Jeff Aznavorian, the company president, thought that he might get some relief when Joe Biden became president, but Biden has since preserved the tariffs that Trump put in place.

Said Aznavorian, “It was a little surprising that an ideologically different administration would keep the policies so intact.” He continued, “That’s just so different from a 2024 Biden administration.’’

Donald Trump and Joe Biden don’t seem to agree on anything, from taxes to immigration to climate change, but on trade policy, they seem to have very similar approaches. This means that despite the results of the election, the United States will most likely keep their high tariffs.

Just last week Biden announced new tariffs on China, which would affect their electric vehicles, batteries, solar cells, and other technology products. He said that his goal is to keep China from flooding the States with cheap imports.

Trade protectionism can cause economic troubles as it can raise costs in households and businesses. Trump labels himself as the “Tariff Man” as he tries to push import taxes on trading partners, specifically China. He’s promised the same for his second term should he win the election, which means the tariffs won’t be lifted and they may actually get stronger as a result.

Biden has been focusing on putting tariffs on China due to key industries like chipmaking and EV advantages that they get. Biden claims that China is producing extras of things like batteries or electric vehicles to have a surplus, which will allow them to price at a competitive rate in the United States. The issue with this is that it could overtake American EV companies due to the affordability brought in by China’s cheap imports.

With the upcoming election, we’ll see how both candidates approach the question of tariffs, especially when it comes to China.

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