UPDATE 09/23/2024

Both of the hopeful presidential frontrunners are pro-tariff. Trump placed tariffs on many Chinese goods during his 4 years and the Biden government hasn’t reduced them but has increased them, There is now a 100% tariff on Chinese-made EV. Canada has also increased tariffs on Chinese EV to 100% (effective October 2024). As tariffs are inflationary, and, as I expect, tariffs will only motivate domestic producers to increase the cost of their products, are tariffs inflationary rather than protective?