American President Joe Biden has walked in the footsteps of former President Donald Trump when it comes to competition with China, continuing and even escalating the confrontation.
Biden’s industrial policies, such as the Inflation Reduction Act (IRA) and CHIPS and Science Act, marked a continuation of Trump’s economic and trade scuffle with Beijing. During the election campaign, the president-elect made it abundantly clear that the rivalry will continue, if not intensify, during his second term.
Trump has also promised to undo many of Biden’s climate change-related initiatives and industrial policies, including tax credits worth up to $7,500 for purchasing electric vehicles and other environmental regulations.
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