Is the US Turning Its Back on Free Trade?

Is the US Turning Its Back on Free Trade?

The United States has long been a champion of free trade, promoting the idea that open markets and the free flow of goods and services are essential for global economic growth and prosperity. However, in recent years, there has been a growing backlash against free trade in the US, with some arguing that it has led to job losses and a decline in American manufacturing.

The Trump administration

The election of Donald Trump in 2016 was a watershed moment for US trade policy. Trump campaigned on a platform of economic nationalism, promising to renegotiate trade deals that he argued were unfair to the US and to bring back jobs that had been lost to globalization.

One of Trump's first actions as president was to withdraw the US from the Trans-Pacific Partnership (TPP), a major trade agreement that had been negotiated by the Obama administration. Trump also imposed tariffs on a wide range of goods imported from China, sparking a trade war between the two countries.

The Biden administration

The election of Joe Biden in 2020 raised hopes that the US would return to a more traditional pro-free trade stance. However, Biden has been cautious on trade, taking a more protectionist approach than some of his supporters had hoped.

Biden has not rejoined the TPP, and he has continued to impose tariffs on Chinese goods. He has also taken steps to strengthen labor unions and environmental protections, which could make it more difficult for American companies to compete in the global market.

The future of US trade policy

The future of US trade policy is uncertain. The Biden administration has said that it is committed to free trade, but it is also facing pressure from labor unions and other groups to protect American jobs.

The US is also facing a growing challenge from China, which is seeking to assert its economic dominance in the world. The US will need to find a way to balance its economic interests with its national security concerns as it navigates the changing global trade landscape.