In new research, Data Analyst Jacob Jensen walks through the economic impacts of President Biden’s trade policies and campaign proposals.

Key points:

• President Biden and former President Trump, while different in tone, echo one another’s stances on protecting U.S. industries and workers through the implementation of costly tariffs and industrial incentives.
• President Biden has introduced roughly $3.8 billion in new tariffs and maintained nearly all the tariffs imposed on China during the Trump Administration, bringing the annual impact to $79 billion, or $600 per U.S. household.
• The Biden Administration’s tariff policies, combined with increased spending and credits for protectionist Inflation Reduction Act and CHIPS and Science Act initiatives, amount to $412 billion, or $3,100 per U.S. household.

Read the analysis