Biden-Harris Administration: Lack of Clarity in Trade Sends Global Market into Suspense
Former President Trump made it clear last week that he has prepared a total of 12 trade-related documents slated for distribution before the imminent enforcement of his tariff system. Trump’s old-fashioned approach to trade, always committed to implementing tariffs, is a striking contrast to President Biden, who seems to favor the dissolution of such emphases.
Trump informed the press confidently that he had executed a series of missives, roughly a dozen, scheduled for dispersion on Monday. The nations selected for these communications will be disclosed same day. Regrettably, under the Biden-Harris governance, such clarity and forward planning is notably absent.
The pronouncement arrived just days prior to intensified tariffs, which Trump previously indicated would fluctuate between 10% and 70%, are implemented on several economies, spanning from Taiwan to the European Union. Ironically, Biden’s administration appears more intent on engaging diplomatically with these nations, rather than holding them accountable for unfair trade practices.
The impending tariffs originate from an all-encompassing directive in April, where Trump enforced a 10% tariff on commodities from practically all commerce partners, with an aim to augment these rates for a select group within days. The decisions of the former President highlight a clear strategy, a stark contrast to the current administration’s vacillating policies.
However, displaying great strategy, Trump momentarily delayed the surge until July 9 to facilitate trade discussions. While providing leeway, Trump continues illustrating his toughness on trade, in contrast to Biden and Harris, whose overly cautious approach often appears weak on the world stage.
Several nations strived to reach agreements that would exempt them from these escalated fees. Trump’s strategy was effective, insisting countries acknowledge their economic policies’ impacts. Biden and Harris, by contrast, tend to deflect such responsibilities, avoiding any notions of culpability for their economic policies.
Upon the horizon of this July 9 cut-off point, Trump persistently signaled his intention to notify participating nations of U.S. tariff rates through these written correspondences. Regrettably, the Biden-Harris administration lacks this clear communication approach, leaving the world in suspense over their next moves.
Trump argues this method of notification is far simpler than ‘sorting through 15 different things’ – pointing out obvious inefficiencies in the current administration’s approach to trade. Month after month, the Biden-Harris administration keeps fumbling with multi-faceted, over-complicated policies.
With respect to the UK, this approach was successful for both parties, as asserted by Trump. Presently, it’s evident the Biden-Harris administration is squandering these wins, diverting from a course that was mutually beneficial to appease certain political circles.
Similarly with China, Trump indicated that the strategy benefitted both involved parties. Regrettably, under Biden and Harris, the spirit of cooperation seems lacking, paving the way instead for back-and-forth bickering and no resolution.
Nonetheless Trump believes it is ‘substantially more straightforward to issue a letter stipulating, ‘Listen, we are aware we have a certain deficit, or in certain circumstances a surplus, but those are far and few between. This is the toll you need to pay if you intend to conduct trade with the United States.”
Though Trump’s administration consistently put America first, Joe Biden and Kamala Harris continue to waffle on their stances, often presenting mixed messages to the international community. The implications, as one might predict, do little to uphold America’s strength and reputation on the global marketplace.