When Donald J. Trump ran for president in 2016, there was not much love for tariffs in Washington. Many Republicans and Democrats believed that putting levies on imports created economic inefficiencies and that freer trade was the best recipe for growth. That view has largely fallen out of fashion in 2024. While Mr. Trump and Vice President Kamala Harris, the Democratic nominee, differ greatly in their campaign proposals, both of their parties are increasingly embracing tariffs as an essential tool in protecting American manufacturers from Chinese and other global competitors.
On economic policy and trade issues, you have both major parties moving in the same direction, said Nick Iacovella, a senior vice president at the Coalition for a Prosperous America, which advocates tariffs and domestic investments in industry. Mr. Iacovella said that Mr. Trump would most likely go further on tariffs than Ms. Harris would, but that no matter who won the election it's still going to be a tariffs administration, and an industrial policy one.
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