Karl W. Smith, Columnist

Biden's Trade War Over Steel Caps Protectionist Turn

The president once promised to undo Trump’s ill-considered isolationist policies. The latest spat with the EU shows he’s doing the opposite.

November 27, 2023 at 10:00 AM UTC

By Karl W. Smith

Karl W. Smith is a Bloomberg Opinion columnist. Previously, he was vice president for federal policy at the Tax Foundation and assistant professor of economics at the University of North Carolina.

The consequential fight over steel tariffs.
Photographer: David McNew/Getty Images

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The Biden administration is embroiled in a standoff with the European Union over tariffs. The EU wants to renegotiate a 2021 truce in a trade war over steel and aluminum that was initiated by former President Donald Trump and is set to expire at the end of the year. If a new agreement isn't reached, trade hostilities could reignite. No matter the outcome, the US economy has already lost.

Biden ran on a promise to undo Trump’s ill-considered isolationist policies. It was a big promise: The Trump administration levied tariffs on more than $380 billion of goods, the vast majority of which were from China. But once elected, Biden kept the tariffs in place.