After several decades during which tariffs were discarded by the bipartisan establishment, trade protectionism is back at the center of American politics. Donald Trump ran and won on tariffs in 2016, put them at the heart of his triumphant 2024 campaign, and is already using them as a bargaining tool for negotiations with countries such as Canada, Mexico, and China. But it isn’t just Trump. After taking office in 2021, President Biden took up and expanded his rival’s trade measures against China.
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