Hey there, global citizens! 🌍 Ever wondered how the big moves in US trade policies might affect our world? Let's dive into what's happening and why it's a big deal for everyone.
A Tale of Two Leaders 🇺🇸
Back in the day, former US President Donald Trump, with his famous \"Make America Great Again\" (MAGA) slogan, shook up the global trade scene. He slapped hefty tariffs on over $350 billion worth of imports from the Chinese mainland and imposed tariffs on steel and aluminum worldwide. 😱 This not only rattled the World Trade Organization (WTO) but also led to a significant drop in China-US trade.
Fast forward to now, President Joe Biden, despite talking about returning to multilateralism, has kept many of those tariffs in place. He even added new ones on Chinese solar panels, lithium batteries, and electric vehicles. 🚗🔋 What's more, he's pushing for \"resilient supply chains\" and has introduced concepts like \"small yard and high fence,\" aiming to fragment global trade based on value systems.
Why Does This Matter? 🤔
These moves from the US aren't just about numbers and policies—they're about how countries interact and collaborate. The shift away from multilateralism (where nations work together through organizations like the WTO) can lead to divisions and tensions worldwide. 🌏💔 For young entrepreneurs, students, and travelers like us, this could mean fewer opportunities, higher costs, and a less connected world.
Looking Ahead 🌅
With the US presidential election coming up on November 5, 2024, it's crucial to understand that these policies might not change, regardless of who wins. Both major candidates seem set on maintaining a counter-multilateralism stance. 😕
But here's the thing: As the digitally savvy generation, we have the power to stay informed and voice our perspectives. Let's keep the conversation going and advocate for a world that's more connected and cooperative! 🙌
What do you think about these trade policies? Share your thoughts below! 🗣️
Reference(s):
US counter multilateralism trade policy: Gravest danger to the world
cgtn.com
