Biden’s Trade Policies - Year One: Same as Trump’s or More Aggressive?

Abstract

After President Biden’s first year in office, one big question is whether the Biden trade policy differs from the Trump chaos. My answer is no. I consider Biden’s trade policy to be Trump without the tweets. They both relied on unilateral measures and broadened protectionist ones. In fact, Biden not only relies upon Trump’s actions but also has expanded them. Trade policies have not changed much between Presidents Trump and Biden. In fact, Biden, relying upon Trump’s actions, has kept them in place. There has been a slight change in tune: a little more reconciliation with Europe and the OECD. However, it is extremely difficult to identify any significant difference concerning China, Russia, and Iran. Has Trump’s America First policy morphed into Biden’s America First or worker-centric trade policy? It looks that way. Let’s look at what Trump did, what Biden has done so far, and the challenges ahead.