President-elect Biden may bring a different approach to the use of tariffs within trade policy compared to the Trump administration. The latter has used a wide variety of measures ranging from the trade war with China to defense of the steel industry and support for home appliance makers. Total tariff income reached $66.0 billion in the 12 months to Nov. 30, up from $34.4 billion in 2016. President-elect Biden may not be in a rush to remove duties, particularly on China, having stated “I’m not going to make any immediate moves, and the same applies to the tariffs”. Resetting tariffs to p...