The Seen and Unseen Protectionism in the US State of the Union

Source: Cato Institute
by Gabriella Beaumont-Smith

“‘America first’ policies are protectionist in nature, but protectionism was also masked in other recommendations the president made to Congress. The president stressed lowering costs for Americans. As inflation is rising (a result of many factors), emphasizing policies to combat higher prices is essential. One of the president’s plans to combat inflation is to cut energy costs by combating climate change. The president recommended tax credits in an effort to increase renewable energy production. However, President Biden did not mention his extension of safeguard tariffs on imports of solar cells and panels. The extension is counter to both reducing energy costs and reducing greenhouse gas emissions.” (05/02/22)