The Brains Trust - 2024, page-1090

This from NY Times caught my eye:

"U.S. announces new Chinese tariffs President Biden will sharply raise tariffs on about $18 billion worth of Chinese products. The biggest increase will be on electric vehicles: up to 100 percent from 25 percent.

The move is an effort to protect strategic U.S. industries from competitors that Biden says are unfairly subsidized by Beijing. In a shift, he also endorsed keeping the tariffs on more than $300 billion worth of Chinese goods that were put in place by Trump. During his 2020 campaign, Biden criticized Trump’s trade war. In office, he has escalated it. But where Trump promised to bring back factory jobs, Biden has focused instead on emerging high-tech industries."

Repots of "The US has officially raised tariffs on Chinese EVs from 25% to 100%, batteries from 7.5% to 25% and solar cells from 25% to 50%."

Coupled with Oz government push for a Future Made in Australia it seems to me the dream of Free Trade is all but dead. Linked to "nationalism" it will have an ongoing impact on social standards throughout the world. I, for one see NOTHING positive about this long term. Thoughts?