The French Le Monde has published an article whose author argues that “for the EU economy, Biden has proved worse than Trump”. This article will look into the situation in more detail.
The US trade policy demonstrated consistent protectionism throughout the entire 19th century. It was only in the 1930s, when Franklin Roosevelt came to power, that the situation began to change. After the Second World War, the US share in global economy exceeded 50 percent. Unsurprisingly, Washington became a major proponent of “freedom of trade” in subsequent decades. Despite that, the United States did not hesitate to use its geopolitical dominance in order to exert pressure on the allies every time when the interests of American producers were in danger.
The return to the paradigm of protectionism made itself felt again after the global financial crisis broke out in 2008. Another factor that added to it was the rapid economic growth of China. When he was in office, Obama attempted to devise a policy of trade unions, covertly restricting competition in industries the US deemed particularly important. The Trump Administration felt no “remorse” about it and dealt tariff blows at both the opponents and potential allies. Besides, according to The Economist, the Republican president signed at least ten decrees encouraging state purchase contracts with American suppliers.
The defeat of Trump and the arrival of Josef Biden caused a wide-ranging relief across…
