Trade War
Biden continues to escalate the American trade war with China by increasing the tariffs on goods made in China, from steel and aluminium to EV’s (electric vehicles) to solar panels apart from, of course, denial of high-end semiconductor chips. Trump promises such and even more stringent measures if he comes to power. Raghu S Jaitley correctly says that in an election year, American politicians will only try and out-do each other in what they say and do. In a polarized country like America, the reactions are also totally predictable – the right says Biden is too soft on China; while the left says that Trump’s measures would be taking things too far and would hurt America. Only their own side knows the right course of action on China. Jaitley evaluates the consequences of such American tariff policies, on both America itself and on China. He looks at America. First , if they try and de-couple themselves from China, they need to build up alternate manufact...