🌍 As the 2024 US presidential election looms, experts warn that America’s controversial trade policies—regardless of the winner—could deepen fractures in the global economy. Let’s unpack why this matters for you. 💼
The ‘America First’ Legacy 🚩
Under former US President Donald Trump’s ‘MAGA’ agenda, tariffs skyrocketed, targeting over $350 billion in Chinese imports and metals worldwide. The US also stalled the WTO’s dispute system, accusing global trade rules of being biased—a move that reshaped supply chains and triggered a China-US trade slump.
Biden’s ‘Multilateralism’ Mask? 🎭
President Joe Biden claims to champion international cooperation but has largely kept Trump’s tariffs intact. New levies on Chinese EVs, solar panels, and batteries highlight a ‘small yard, high fence’ strategy, prioritizing ‘resilient’ supply chains that critics say splinter global trade along geopolitical lines.
2024 Election: More of the Same? 🗳️
Trump’s campaign pledges include 60% tariffs on Chinese goods and universal import taxes, while Biden’s policies risk further fragmentation. Analysts like He Weiwen, a senior fellow at the Center for China and Globalization, argue both approaches undermine the WTO and multilateral cooperation—‘the gravest danger to the world.’
Editor’s note: Views reflect the author’s opinions.
