The trade war, initiated by former President Trump in 2018, aimed to reduce the trade deficit, bring back jobs, and protect U.S. intellectual property but ultimately failed.
Despite an initial impact on the trade deficit, it grew during the pandemic, while the manufacturing job growth experienced a stall as tariffs were implemented.
The only clear beneficiaries of the trade war were third countries like Vietnam, where Chinese firms shifted production to avoid U.S. tariffs.
To improve outcomes, future administrations should reconsider tariff strategies and actually incentivize Chinese tech firms to establish operations domestically.
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