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Scott Bessent Defends Tariffs as Strategic Economic Tool

 

In the latest chapter of international relations, President Biden’s administration has unveiled a strengthened approach to address the pressing fentanyl crisis. The President has been focusing on disrupting illicit fentanyl supply chains and enhancing cooperation with international partners. While tariffs have not been explicitly mentioned as a tool in this strategy, the administration has been working on multiple fronts to combat the issue.

Take, for instance, the recent progress with China. During their November 15 meeting, President Biden and President Xi Jinping announced the resumption of bilateral cooperation on counternarcotics, with a focus on reducing the flow of precursor chemicals fueling illicit fentanyl and synthetic drug trafficking. This marks a significant step, as bilateral cooperation on counternarcotics had been suspended for years.

Mexico and Canada have also been involved in these efforts. The Biden-Harris Administration has initiated new measures to disrupt the trafficking of illicit fentanyl and its precursors into American communities. This includes increased security at the border and the deployment of detection technology.
The administration’s approach involves a whole-of-government effort to save lives by disrupting the trafficking of illicit fentanyl and its precursors into American communities. This strategy builds on the President’s National Drug Control Strategy and aims to crack down on the production, sale, and trafficking of illicit fentanyl.

China has been a focus in this effort, with the administration stepping up counternarcotics cooperation with key government partners across America and around the world, including China, India, Mexico, and Canada. The United States has also launched the Global Coalition to Address Synthetic Drug Threats, which unites more than 140 countries in the fight against drug trafficking cartels and illicit finance.

The strategy also includes increasing security at the border. Under President Biden’s leadership, the administration has invested significant amounts of funding for law enforcement efforts to address illicit fentanyl trafficking and enabled historic seizures of illicit fentanyl on the border. The President’s national security supplemental funding request includes more than $1.2 billion to stop the flow of illicit fentanyl into American communities.

With this comprehensive approach to restoring public health and safety, the strategy holds promise. Whether it pans out as planned, only time will tell. But for now, the administration is taking significant steps to combat the fentanyl crisis, even if it means engaging in complex international cooperation efforts with the rest of the world.

Written by Staff Reports

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