” Editorial in the World. “ Those who expected that Joe Biden would take the opposite of Donald Trump on the economic plan are for their costs. Far from breaking with the protectionism of its predecessor, the new president of the United States is considering, on the contrary, to strengthen it, at the risk of undermining multilateralism and the transatlantic relationship, without that us employees derive a benefit.
On 25 January, five days after his inauguration, Joe Biden has signed a presidential decree to compel the administration to more to buy american. Now, for a product to be considered ” made in USA “, its components will have to come to more than 50 % of american companies. In addition, a u.s. company may be chosen in a call for bids, even if it is 20 % more expensive than a foreign competitor.
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The public markets now represent a budget of more than $ 600 billion, which is expected to be added in the coming months, a plan of investment in the infrastructure of 2,000 billion dollars. The new president wants these expenditures benefit of priority to businesses and american jobs.
A cost exorbitant
What could be more logical on the political level ? Donald Trump was elected in 2016 on the theme of the protection of the losers of globalization, starting with the electorate worker white of the industrial states of the Midwest. Since then, the democratic Party is trying to retrieve these voters by adopting him as accents protectionist. But this is not by extending the policy under Donald Trump that Joe Biden will be able to make it back to the factories and the jobs on american soil.
On this plan, the record of his predecessor leaves something to be desired. If you should recognize to Donald Trump deserves to have raised the awareness of the non-respect of the rules of international trade by China, the protectionist measures that it has taken have produced the opposite effect to the one intended.
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first, the “Buy American” has been a huge cost to the american taxpayer in added greatly to the purchasing public, as shown by a recent study by the Peterson Institute for International Economics. Each job is preserved thanks to the protectionist measures cost a quarter of a million dollars. This public money would have probably been better spent in training and professional reorientation.
Then, the taxes on imports have resulted in an extra cost to the american consumer, without dramatic effect on the relocation. Over the past four years, the trade deficit of the United States has continued to widen, reaching a historic level.
In imitation of Donald Trump, Joe Biden has all chances to lead to the same result. If the goal of protecting american jobs is legitimate, it must go through the return of the United States in the trade multilateralism which the previous administration had self-excluded. Rather than move towards protectionism uncouth, the United States would militate in favour of the rules of reciprocity that facilitate access to new markets abroad.
The message of Joe Biden may be inefficient for the us employees and counter-productive to the transatlantic relationship, at a time when the United States and the european Union would need to make a common front against China, to compel it to respect the rules of international trade.
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