Which I believe in, but Trump deserves props for lowering the boom on a China that’s never played by global free trade rules. Trump’s problem is that he has no convictions at all, except, seemingly on protectionism. I think he applies that “revolutionary war airport” razor sharp understanding of geopolitics to get to “trade bad for gdp”. His trade problems first term were his blanket indiscriminate tariffs against everyone, allies and stand-up trade partners included. He’s now talking about blanket 60% tariffs against China, which would sever the relationship, potentially causing massive supply chain upheaval (depending on how much that’s shifting now), not to mention increasing tensions. On top of that he’s threatening blanket 10% tariffs on everyone else. I’m deeply opposed to that devotion to protectionist ideology.

That’s not what’s happening here with Biden. China is in a desperate place - more than I think many of us realize. Its economy is a shambles with few places to turn. Its domestic market can’t dig it out. So it’s dumping, steel most of all. Yellen was just there warning them. This is the logical next step, and I bet it will be joined by other trade partners with similar complaints against China.