President Biden's administration is imposing tariffs on Chinese exports of electric vehicles and other imported goods, signaling protectionist measures. These tariffs are a preventive shot aimed at avoiding another surge of Chinese imports that could undermine the U.S. economic agenda.
Economists, including the author, acknowledge that while cheap imports enrich a nation, they can harm workers. This acknowledgment led to a debate in the 1990s about imports from low-wage countries contributing to rising U.S. income inequality.
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