Container ship at the Port of Los Angeles in San Pedro, Calif., September 29, 2021. (Mike Blake/Reuters) Biden-Trump protectionist policies are bad for the economy and don’t accomplish their supposed aims.
Joe Biden promised supporters he would “make America respected around the world again.” The most recent refutation of that promise comes in the area of trade. In a recent statement, Hans Dahlgren, Sweden’s minister for EU affairs, warned that “the new president [Joe Biden] is more favorable to cooperation with Europe. . . . But we must not fool ourselves; [Biden] is representing the interests of the United States, and when he defends America first, he sounds very similar to the trade policy of [Donald] Trump.”
Now, the U.S. doesn’t have a duty to follow the advice of European bureaucrats. But wisdom comes from strange places these days. The trade policies of Trump were damaging, as U.S. trade representative Katherine Tai said in a recent speech. But the policies she lays out do not show a significant break from Trump’s. Tariffs remain a “very important tool” in the administration’s policies, according to her speech.
In fact, we just learned that, in the month of