Economic Policies in the 2024 Presidential Race
The upcoming 2024 presidential election is already shaping up to be a rematch between President Biden and former President Trump. Both candidates are being scrutinized for their stances on critical issues such as immigration, healthcare, and foreign policy. However, a significant area of contention lies in their economic policies.
The Impact of Trade Policies
Both Biden and Trump have taken a hard stance against America’s traditional international trade policy, favoring protectionist measures over free trade. The current administration has maintained tariffs on Chinese goods, leading to increased taxes on imported products. Proposed tariffs on other countries, including allies, further highlight the shift towards protectionism.
The Consequences of Trade Restrictions
Trade restrictions imposed by both administrations have resulted in higher prices for American consumers and hindered domestic production. These policies have continued under Biden, impacting the economy negatively.
Economic Actions Under President Biden
President Biden’s recent economic decisions, such as the Inflation Reduction Act and the CHIPS Act, have faced criticism for potentially increasing the deficit and favoring well-off companies over the American worker.
The U.S. Steel Deal Controversy
Biden’s objections to the sale of U.S. Steel to Nippon Steel have raised concerns about political interference in economic matters. The deal, which could benefit both countries and create job opportunities, is being hindered by political considerations.
The Call for Free Trade
As the economic landscape faces uncertainty, there is a growing need for a return to free trade policies that have historically fueled America’s prosperity. Voters are urged to advocate for policies that promote economic growth and innovation.
Alex Adkins is a graduate of Benedictine University who has written for the Washington Examiner, the Daily Caller, the American Spectator, the American Thinker, the Federalist, and the Western Journal.
Image: Shutterstock.com.
Read More of this Story at nationalinterest.org – 2024-03-29 19:02:09
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