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The end of a major trade war between the U. President-elect Joe Biden is widely expected to improve diplomatic ties with China and tone down the harsh rhetoric used by Trump and his top aides.

International Trade Administration. You could consider the tariffs as a gift to Biden. Read: Biden is inheriting a resilient economic recovery but ….

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Unfavorable views of China, for instance, have climbed to a record high, recent polls show. The international trade fight and the origin of the coronavirus pandemic in China have both played a Untied. In Congress, leading Democrats such as Sen. Minority Leader Charles Schumer have long been critical of Chinese trade practices. At the same time, though, Biden will face pressure from various business constituencies to relax at least some of the tariffs. Many are already lobbying the incoming administration. The Trump tariffs have also raised the cost of many imports that U.

Rescuing U.S. Foreign Policy After Trump

Companies simply Tje production to other countries such as Vietnam and Mexico to escape the China tariffs. China has only purchased a little over half of what it promised to buy, in no small part because of the damage done to global trading system by the coronavirus pandemic. One big step a Biden White House could take early on is to reduce or suspend tariffs on steel and aluminum that Trump imposed see more a number of countries aside from China on national-security grounds. These tariffs raised the cost on a variety of industrial products and consumer goods such as autos and appliances. Trade experts say another move the new president is likely to make is to resolve other conflicts with Europe and allies in Asia that arose under Trump as part of a broader Biden strategy to raise pressure on China.

European countries have similar complaints about Chinese trade practices, but they were reluctant to team up with Trump when he was imposing tariffs on Europe as well for unrelated reasons. By teaming up with Europe and keeping the Trump tariffs in place, Biden will retain leverage over China, mute potential criticism in Go here and keep the public on his side, analysts say. Trade experts expect him Prrsident use the leverage to press China to ease access to its markets, reduce financial support for state-run companies, and end other unfair practices.

One wild card that could also come into play, meanwhile, is a renewed U.

That's true even for public pension systems as deeply underwater as those in Illinois, Kentucky and New Jersey. Economic Calendar.]