For the past six months, the regime has repeatedly used whatever bogeyman could be blamed for inflation—so long as the central bank remains blameless. First it was "greed," then it was covid, and now it is "Mr. Putin."
The White House this week admitted sanctions don't work, but Biden thinks it's fine to shrug and say, "Sure, sanctions have failed, and are also causing food shortages, but that's just the price you little people gotta pay!"
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.