Life after the elections: Biden tariff reset would come with complications

China 2728 Cons. Discr. - Durables 390 Elections 119 Info Tech - Comms Equip 179 Tariffs 1701 Trade Balance 888 U.S. 4848

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...

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