U.S. trade policies likely to soften after Biden becomes president
The incoming Biden administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Donald Trump.
“We know there will be changes under a Biden administration. He’s more of an internationalist,” said David Hardin, a farmer who raises pigs, corn and soybeans on his Danville farm in Hendricks County.
Everything Hardin produces has been affected by the back-and-forth tariffs that the United States and China imposed on each other’s exports beginning in 2018.
Hardin, who saw pork prices plummet after China imposed a 25% tariff on U.S. pork in April 2018, said trade has “somewhat normalized” since then. In part, that came from a deal the United States and China reached early this year in which China agreed to increase its purchase of U.S. goods and services in 2020 and 2021.
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