Biden is choosing to increase consumer inflation during an election year.

Interesting strategy.

It’ll be interesting to see how Amazon counters this.

This is the best summary I could come up with:

Mr. Biden’s decision on Tuesday to codify and escalate tariffs imposed by Mr. Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs.

Democrats and Republicans once joined forces to engage economically with Beijing, driven by a theory that America would benefit from outsourcing production to countries that could manufacture certain goods more cheaply, in part by paying their workers low wages.

Economists knew some American workers would lose their jobs, but they said the economy would gain overall by offering consumers low-cost goods and freeing up companies to invest in higher-value industries where the United States had an innovation advantage.

“Investment must be paired with trade enforcement to make sure the comeback we are seeing in communities around the country is not undercut by a flood of unfairly underpriced exports from China,” Lael Brainard, who directs the White House National Economic Council, said in a speech on Thursday.

Jennifer Harris, a former Biden aide who now leads the Economy and Society Initiative at the William and Flora Hewlett Foundation, has pushed the administration to couple its industrial policy spending with even stricter rules on what the recipients of that money can do with it.

She wants stronger mandates for domestic automakers to shift to electric vehicles, for example, and stricter curbs on stock buybacks to force companies receiving government grants, like semiconductor manufacturers, to invest more in research and development.

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