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Biden plans new 15% tariff on Chinese steel in election-year resumption of Trump trade war

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mystery-ak:
 Biden plans new 15% tariff on Chinese steel in election-year resumption of Trump trade war
By Social Links for Steven Nelson
Published April 17, 2024, 5:03 a.m. ET


WASHINGTON — President Biden will announce plans for a new 15% tariff on Chinese steel and aluminum as he campaigns for votes in Pittsburgh on Wednesday — resuming former President Donald Trump’s trade war with Beijing after a three-year lull.

Biden administration officials announced the move in a press call with reporters — saying China was poised to flood the US market with cheap steel and aluminum, undercutting American manufacturers.

“China’s policy-driven overcapacity poses a serious risk to the future of the American steel and aluminum industry,” one official said.

“In manufacturing sectors like steel, China’s already producing more than China or the world can easily absorb. China’s subsidies and other forms of support lead to exports flooding global markets at artificially low prices, undercutting American steel.”

more
https://nypost.com/2024/04/17/us-news/biden-plans-new-15-tariff-on-chinese-steel-in-election-year-resumption-of-trump-trade-war/

LMAO:
We’re screwed economically regardless who wins the election

This will also put further financial stress on consumers and businesses that are already dealing with rising costs

LMAO:
Both Trump and Biden must have the same economic advisor

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