After four years of Trump’s trade wars here are three observations concerning tariffs on Chinese imports: some Chinese imports are surging; Chinese imports hit with 25% tariffs have struggled; imports of semi-conductors from China have cratered. Bottom line, decoupling is not clear. These trends are continuing under President Biden, and some are likely to increase in light of the passage of new legislation concerning semi-conductors. 

     What can also be said is that geopolitical trends and greater concern with national security threaten globalization as well as notions of free trade.

• “Four Years into the Trade War.” (Nov. 2022);
• “Geopolitics Threatens Globalization.” (Nov. 2022).