For decades, the US has been the primary source of global demand (& issuer of reserve assets) running large external deficits and debts. This proved politically unsustainable. Biden tried to reverse it via large subsidies. Trump via tariffs. Their objective is the same: reindustrialize US.
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Their effect to external deficit is not straightforward (by making investment in the USA more attractive, they could increase the external deficit). And on the short-term they clearly increase the debt
We don't agree on the "Biden tried to reverse it [running large external deficits and debts] via large subsidies" part.