The ongoing trade war between the United States and China escalated this week with the latest move, adding to the tension in the race for the White House.
President Joe Biden announced on Tuesday an increase in tariffs on various Chinese imports, totaling $18 billion.
The majority of this amount, $13 billion, is attributed to lithium-ion batteries, with the remaining $5 billion covering specific steel and aluminum products, medical gloves, and syringes.
While experts predict minimal impact on consumer prices and economic growth from these tariffs, the political implications for Biden’s reelection campaign are significant.
According to Bernard Yaros, the lead US economist at Oxford Economics,
Despite the limited economic
Demonstrating Strength
With the upcoming presidential election in November, Biden
Trump has always projected a tough image, particularly in foreign policy and the
Research from the National Bureau of Economic Research in January suggests that
During the period of 2018 to 2019, when Trump imposed hefty tariffs on China and other nations, the study revealed that residents in regions heavily impacted by import tariffs shifted towards identifying as Republicans rather than Democrats.
The findings of the report highlight the complex interplay between trade policies and political outcomes.
Post from www.aljazeera.com
