In the weeks since Democratic nominee Joe Biden was declared by the media to be the winner of the presidential race, his prospective administration has faced mounting scrutiny from both sides of the aisle over matters both domestic and global.
Now, it seems concerns that a Biden administration would bring about the repeal of President Donald Trump’s “America First” nationalist trade policies have just been confirmed by the former vice president’s fledgling team of economic advisers, as Breitbart reports.
A step toward globalization
As Biden continues to announce his picks to fill key roles within the executive branch, his economic team has grown to include advisers with a globalist view similar to the positions of the Obama administration and most of his predecessors.
Whereas Trump has not been afraid to wield economic tools such as sanctions and tariffs to compel foreign nations to negotiate, Biden’s team is considerably less likely to over similar advice.
As Breitbart reported, Biden’s partially assembled team might not completely abandon every aspect of Trump’s established trade policy but could signal a return to globalist ideals including an embrace of international cooperation and multilateral trade deals in conjunction with a decrease in sanctions and tariffs.
The Wall Street Journal appeared to echo that prediction, signaling that Biden’s advisers are expected to chart a new path between Trump’s “America first” mentality and a full-fledged endorsement of globalist goals.
In terms of America’s approach to China, Biden’s team would likely refrain from further use of tools imposed by the Trump administration in an effort to coax U.S. allies around the world into applying their own pressure to the emerging superpower.
Treasury Department shake-ups
Domestically, Biden’s team is reportedly in favor of implementing new spending programs to assist Americans struggling after decades of globalization that he had previously championed during his decades-long career in public office.
Among the primary indicators of Biden’s likely trade-policy shift is his pick of former Federal Reserve Chairwoman Janet Yellen to serve as secretary of the U.S. Department of Treasury if he is successful in becoming the next president.
Yellen has been an outspoken critic of Trump’s use of tariffs against China and other nations, expressing concern over their impact on the relative strength of the U.S. dollar in comparison to other currencies.
In addition to the Yellen pick, former Obama economic adviser Adewale Adeyemo, a key crafter of the massive Trans-Pacific Partnership, is expected to be the deputy Treasury secretary under a Biden administration.
For his part, Biden said in a recent interview that he would not “make any immediate moves” regarding tariffs imposed by the Trump administration, according to The New York Times.