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Challenges for Joe Biden to change the US trade relations

Challenges for Joe Biden to change the US trade relations 

Recent the victory of Joe Biden in the US as president was talk of the own. Everyone is surprised by the huge votes that Joe Biden has received in his favor. One more prominent fact is that he is talking about some great reforms in the system of America. In the era of a pandemic, it is a big question that everyone wants to know how is going to save the economy from falling into depression. People of America have given him votes because they are looking forward to something great in this context. The only thing that they are looking forward to is great security for their work and jobs.

Planning for the US Economy

The most challenging work that they are looking forward to brings the economy once again into the right form and make the necessary changes. Some common things believe in this context. You should know the fact that how people are going to believe in him. Now the major thing is that people believe that he will be investing in Coronavirus relief funds.

In his campaign, he had given a plan for giving relaxation in the repayment of the student’s loads and increment on the social security checks for the pensioners. He also promised to give money to small business owners who accept and generate check stubs. Furthermore, he also showed up some interesting investment plans like clean energy, infrastructure, and public transit.

Global stage

Handling the global image is the next thing that Biden needs to pay attention to. His ideas for handling the various stages are completely different. Mr. Donald trump selected to put the high tariffs on the Chinese products when he was trying to join the fight with the international competition. Joe Biden has put special emphasis on the multiple approaches and he is willing to take the help of traditional allies.

Trade relationship set up

Biden is looking forward to offering a completely new relationship and planning to the EU. This includes them offering the lower tariff on the various aspects of the international business. He has created a liberal tariff plan to make things work in the right direction. But still, many compacts will be part of his trade relationship strategies. He is going to change the tariff plans on many goods and other products but it must be taken into consideration that some products are going to get fewer tariffs because of his liberal planning.

Encouraging more trade reforms

The other thing is that Biden may be looking forward to making a strong relationship with the world trade organization. Donald Trump had different views about the WTO and his actions were greatly influenced that WTO is a less favorite organization for him when it comes to business and various aspects of it. Digital services tax from Europe is still under discussion matter where Biaden will be taking the most important decision.

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