For the good of the U.S. and world economy, the International Monetary Fund (IMF) has advised the Biden administration to end the tariffs imposed by Donald Trump and his administration. The Biden administration has disappointed economists and trade analysts by continuing policies that objective measures show harm U.S. consumers and companies.
The “Concluding Statement of the 2021 Article IV Mission,” which was issued on July 1, 2021, following the end of an official IMF staff visit, takes aim at U.S. trade policies.
“The [Biden] administration has underscored the need for a ‘worker-centric’ trade agenda that ensures that global trade benefits Americans as workers and wage-earners, not just as consumers,” notes the IMF in a section titled Gaining from Trade. “In pursuing these objectives, a removal of the obstacles to free trade would help support U.S. workers and create more and better U.S. jobs (particularly in light of the domestic efforts that are being proposed to increase productivity, labor supply, and the competitiveness of U.S. producers).
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