When Donald Trump introduced a series of tariffs on Chinese goods, just over five years ago, Joe Biden was among his fiercest critics. Trump, he said, was âcrushingâ American farmers, workers and consumers by sparking an âirresponsible trade warâ, and he vowed to reverse his âsenseless policiesâ. But once in power, Biden did the exact opposite: he actually strengthened Trumpâs protectionist policies, launching âa full-blown economic war on Chinaâ.
Last week, that war escalated to near-nuclear level as the White House announced massive tariff hikes on a raft of Chinese imports â including 25% on steel and aluminum, 50% on semiconductors and solar panels, and a staggering 100% on electric vehicles (EVs). The move, they say, is in response to âChinaâs unfair trade practicesâ. The US accuses Beijing of using hefty government subsidies to flood global markets with artificially low-priced exports. By imposing its swingeing tariffs, the US hopes to create âa level playing-field in industries that are vital to our futureâ, and âensure America leads the worldâ in these sectors.
Itâs pretty ironic that Biden is attempting to level the playing-field by embracing similar tactics to Beijing. His administrationâs much-vaunted Inflation Reduction Act includes almost $400 billion in subsidies (through grants, loans and tax credits) aimed at boosting the US cleantech sector. So Bidenâs attempts to paint China as a rogue nation using ânon-market practicesâ to âgame the systemâ seem driven by fear that the Chinese subsidies risk nullifying the effect of Americaâs own subsidies. (...)
Did you just argue for free trade? Because I think you just argued for free trade.
When Donald Trump introduced a series of tariffs on Chinese goods, just over five years ago, Joe Biden was among his fiercest critics. Trump, he said, was âcrushingâ American farmers, workers and consumers by sparking an âirresponsible trade warâ, and he vowed to reverse his âsenseless policiesâ. But once in power, Biden did the exact opposite: he actually strengthened Trumpâs protectionist policies, launching âa full-blown economic war on Chinaâ.
Last week, that war escalated to near-nuclear level as the White House announced massive tariff hikes on a raft of Chinese imports â including 25% on steel and aluminum, 50% on semiconductors and solar panels, and a staggering 100% on electric vehicles (EVs). The move, they say, is in response to âChinaâs unfair trade practicesâ. The US accuses Beijing of using hefty government subsidies to flood global markets with artificially low-priced exports. By imposing its swingeing tariffs, the US hopes to create âa level playing-field in industries that are vital to our futureâ, and âensure America leads the worldâ in these sectors.
Itâs pretty ironic that Biden is attempting to level the playing-field by embracing similar tactics to Beijing. His administrationâs much-vaunted Inflation Reduction Act includes almost $400 billion in subsidies (through grants, loans and tax credits) aimed at boosting the US cleantech sector. So Bidenâs attempts to paint China as a rogue nation using ânon-market practicesâ to âgame the systemâ seem driven by fear that the Chinese subsidies risk nullifying the effect of Americaâs own subsidies. (...)
Reuters was unable to determine the impact of the secret operations or whether the administration of President Joe Biden has maintained the CIA program. Kate Waters, a spokesperson for the Biden administrationâs National Security Council, declined to comment on the programâs existence or whether it remains active. Two intelligence historians told Reuters that when the White House grants the CIA covert action authority, through an order known as a presidential finding, it often remains in place across administrations.
I know! Really! That nasty expansionist Taiwan pressing its territorial claims on its neighbours and building island fortresses on submerged island reefs. Absolute blight on the face of Asia.
Do you honestly think you are not? Like some voice of ideologically-sanitised criticism here to point out everyone else's internal contradictions and bias? srsly?
It doesn't fit prominent tribal dichotomies/narratives?
Do you honestly think you are not? Like some voice of ideologically-sanitised criticism here to point out everyone else's internal contradictions and bias? srsly?
