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New Chinese EV tariff signals bipartisan shift on trade policy

New Chinese EV tariff signals bipartisan shift on trade policy
Just a decade ago, most lawmakers backed more free trade.

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President Joe Biden's recent announcement of increased tariffs on Chinese imports is a significant shift towards protectionist trade policy. This marks a complete reversal from the free trade policies that were widely supported by lawmakers just a decade ago. The move comes as a result of both domestic politics and international trends that have shifted support away from free trade. Senator Sherrod Brown has gone as far as calling for a total ban on Chinese electric vehicles. The shift in the political consensus towards protectionism has been influenced by the grievances of workers affected by trade agreements. Trade experts have pointed out that China's government has been skirting international trade laws by subsidizing key industries and flooding the global market with inexpensive products, which has put American companies out of business. While some experts believe that tariffs are the better of two bad options, others are concerned about the potential negative impact on consumers. Former President Donald Trump has even called for more dramatic levies on imports, proposing tariffs of up to 10% on all imports and 60% on all Chinese imports. This has raised concerns about the potential impact on American consumers, with estimates suggesting that the average family would pay $1,700 more each year in taxes under Trump's proposed tariffs.