Cronyism: when the government passes policies to benefit special-interest politicians, bureaucrats, businesses, and other groups at the expense of the general public.
Tariffs and trade controls are little more than tax increases and a chance to further empower a bloated bureaucracy. Not surprisingly, Biden doesn't appear to be enthusiastic about embracing free trade.
In 1929, what remained of laissez-faire policy in America was brushed aside. Led by President Hoover, the government embarked on what has accurately been called the "Hoover New Deal."
