As the former president of the United States, Donald Trump made his stance on trade with China very clear during his 2016 presidential campaign. He advocated for a more aggressive approach towards trade with China and this resulted in the US-China Trade War being a significant concern during his time in office. Even after Biden took office, his administration continued Trump’s tariff regime and implemented even stricter restrictions targeting China’s technology usage, particularly on semiconductors.
Now that Trump is looking to get the Republican presidential nomination again, he is proposing even higher tariffs, potentially exceeding 60% on Chinese goods. This has raised questions about the impact such tariffs would have on the US economy and global trade, especially for a country still grappling with inflation.
To explore these potential effects, a Bloomberg podcast episode featuring Tom Orlik, chief economist at Bloomberg Economics, and Mackenzie Hawkins, US industrial policy reporter for Bloomberg News was recorded. The podcast provides an in-depth analysis of the implications of the proposed tariffs on the US economy and global trade. Key insights from the podcast include discussions on the economic role of tariffs, the impact of tariffs under the Trump and Biden administrations, and the potential impact of increased tariffs on clean energy, electric vehicles market and global economic cooperation.
As US-China trade relations continue to evolve it is crucial to understand