Guest commentary: New US trade policy: There is no lobby against Europe's tariffs
The US customs policy will change slightly in the future. But Europe is not the focus, even for the Democrats, says Adam Posen, head of the Peterson Institute for International Economics.
The Democrats' significant victory in the US midterm elections is unlikely to bring about a fundamental shift in US trade policy. Although tariffs have become unpopular and are now associated with higher prices, the election outcome primarily reflected voters' dissatisfaction with high inflation. Trade was not a top concern in the election campaign, and any changes to US foreign economic policy will likely be piecemeal and lacking in strategy.
The US is likely to pass laws that take a more confrontational approach to the Chinese economy, an approach that has support from both parties.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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