Tariffs cause American businesses to pay more for foreign goods. However, they can also serve to shield certain local producers and, in spite of the expense, gain political points in swing states like Pennsylvania and Michigan.

Trump’s tariff policy 

During his presidency, Trump imposed additional taxes on imported aluminum and steel, washing machines, and almost $300 billion worth of goods manufactured in China.

Trump intends to increase such tariffs if he wins back the presidency by imposing a minimum 10% fee on all imports from all nations, a tariff of up to 60% on all imports from China, and a 100% tariff on all automobiles manufactured outside of the US.

Biden’s tariff policy

The majority of Trump’s tariffs have been maintained by Biden, including those on Chinese-made luggage, shoes, and baseball caps.

Biden declared in May that he would raise duties on $18 billion in imports from China in a few categories that were seen to be critical to the country’s security, such as steel, aluminum, electric cars, battery components, and legacy electronics. Over the course of the next two years, the new tariff rates will be in force.

CNN