WASHINGTON – President Biden announced new tariffs on Chinese goods on Tuesday. Former President Donald Trump is escalating his trade war with China while trying to narrow the Republican lead in economic polls.
The tariffs will apply to about $18 billion a year in imports, including metals such as steel and aluminum. Green energy technologies such as solar panels and electric cars. Certain semiconductors, construction cranes, medical products, etc.
Over the next two years, electric vehicles will be subject to a 100% customs duty, solar panel parts will be subject to a 50% import tax, and other products will be subject to a 25% penalty.
“China is using the same old strategy to promote its own growth at the expense of other countries,” White House Chief Economist Lael Brainard said at the 81-year-old’s Rose Garden speech. He said this in remarks outlining the tariffs, which will be formally announced in a speech. Biden later Tuesday.
President Trump, 77, has vowed to impose a 200% tax on electric cars and further increase tariffs on Chinese goods to maintain his dominance at home.
The 45th president, who is scheduled to face Biden again in November, has been aggressive with Chinese goods since 2018 in an effort to force new trade deals that would roll back China’s protectionist practices at the expense of American companies. imposed tariffs.
Free trade critics argued that the tariffs would make Chinese goods more expensive for U.S. consumers, but Trump’s policies have since received support from both parties.
Biden, who maintained President Trump’s tariffs on China, announced during a visit to the battleground state of Pennsylvania last month that he supports additional 15% tariffs on Chinese steel and aluminum in response to a review by the Office of the U.S. Trade Representative.
President Trump had imposed 25% tariffs on steel and 10% tariffs on aluminum on most countries, including China. He then imposed tariffs ranging from 7.5% to 25% on Chinese goods, which account for $362 billion in annual imports.
Washington and Beijing are “Phase 1” However, subsequent negotiations were completely changed by the coronavirus pandemic that hit the United States in March of the same year.
Biden’s tariff announcements come as voters consistently rank the economy as one of their top priorities as inflation and interest rates remain high.
According to a Gallup poll released this month, only 38% Forty-six percent of U.S. adults have “a lot” or “a lot” of confidence in Biden to manage the economy, compared to 46% who say the same about Trump.An ABC News/Ipsos poll this month found the same thing. 32% trust Biden 46% trust Trump on the economy.
Republicans, including Trump, argue that Biden is too respectful of Beijing on a range of issues. That includes seeking answers about the coronavirus outbreak that the FBI believes was a laboratory leak that has killed more than 1 million Americans. Wuhan, China. and the suspension of exports of synthetic opioids such as fentanyl, which have killed more than 250,000 Americans since President Biden took office.
Congressional Republicans leading an impeachment inquiry into corruption allegations against the Biden family are seeking evidence that the current president met with leaders of two separate Chinese government-led enterprises involving his eldest son Hunter Biden and eldest son James Biden. submitted.
