Behind the New US Tariffs on Chinese Products
Hinh T. Dinh
No 2418, Policy briefs on Economic Trends and Policies from Policy Center for the New South
Abstract:
President Biden's announcement of new tariffs on China, though not economically significant on its own, symbolizes the deepening decoupling of the U.S. and Chinese economies. These tariffs, supported by both major political parties, represent the latest step in a broader strategy that favors policy interventions over traditional free-market principles and aims to protect domestic workers, maintain technological leadership, and prioritize economic security. This policy brief discusses the factors behind this shift in U.S. economic policy, including the experiences from the first and second China shocks. This shift, along with China's subsequent export policy reactions, will have important implications for the trade policies of developing countries.
Date: 2024-05
New Economics Papers: this item is included in nep-cna and nep-int
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