Former US President Trump and Biden to Face Off Again in 2024 Presidential Election
In what is shaping up to be a highly anticipated rematch, former US President Donald Trump and Joe Biden are set to face off again in the 2024 presidential election. According to US media analysis, no matter who is elected president, the Chinese Communist Party (CCP) will be the biggest loser.
Bloomberg reported on February 12 that both Trump and Biden view the CCP as a critical issue in the election, and taking a tough stance against China will prove to be the winner. Trump previously launched a trade war against China while in office, and Biden later expanded the scope of the trade war. Both men have reasons to claim they are taking a tougher stance against China.
Trump has once again made tariffs a central point in his campaign, stating that if elected, he would impose tariffs of over 60% on all imported products from China, effectively reducing the $575 billion Sino-US trade to almost zero.
On February 8, while speaking at Mar-a-Lago in Florida, Trump justified his plan to impose hefty tariffs on China, stating that the CCP “is taking away our business at an unprecedented level.” He added, “By doing this (increasing tariffs), we are bringing business and manufacturing back to the United States.”
The report highlighted that Trump’s remarks could prompt Biden to take even tougher measures against the CCP before the election. While Biden may not propose such drastic tariffs, he could choose to impose new restrictions on China in areas such as electric vehicles.
According to the report, Sang Baichuan, a professor at the University of International Business and Economics in Beijing and an adviser to the Ministry of Commerce of China, stated that no matter who is elected, Trump or Biden, it will be a “huge threat” to the CCP.
The report also mentioned that in addition to tariffs, Trump hinted at implementing a new ban on two-way investment between the US and China. He promised to exclude the CCP from “critical industries” in the US and ensure that US funds will not promote the development of the CCP.
On the other hand, Biden is developing a screening plan for US investment in areas such as artificial intelligence and quantum computing to lock in the CCP’s competitiveness in cutting-edge technology. He has also imposed export controls on China’s semiconductor and chip manufacturing equipment while taking steps to promote the development of these industries in the US.
The report concluded by pointing out the difference between Trump and Biden’s approach, highlighting that Trump’s looks more like that of a lone soldier, while Biden has built a broader alliance for his policies to prevent the CCP from undermining the US-led world order.
It is clear that no matter who wins the 2024 presidential election, China’s stance on the global stage will face significant challenges in the coming years.