Biden to quadruple tariffs on Chinese EVs as he works to outfox Trump
By
Haisten Willis
May 14, 2024 5:00 am
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President Joe Biden is upping the ante in his trade war with China — and with former President Donald Trump.
Biden opposed Chinese tariffs during the 2020 election but is now not only matching but exceeding Trump’s tariffs on the world’s second-biggest economy.
“The president is taking important enforcement action to raise tariffs in key sectors under Section 301 of our trade laws that will make sure that historic investments in jobs spurred by President Biden’s actions are not undercut by a flood of unfairly underpriced exports from China,” National Economic Council Director Lael Brainard said Monday.
The Biden administration has announced it will raise tariffs on certain Chinese steel and aluminum products from 7.25% to 25% this year, on electric vehicles from 25% to 100%, and on semiconductors from 25% to 50% next year.
“American workers and businesses can outcompete anyone — as long as they have fair competition,” reads a fact sheet announcing the changes. “But for too long, China’s government has used unfair, non-market practices.”
Those changes, the White House says, have led to Chinese firms controlling up to 90% of global production for some goods. The administration says the tariffs, in addition to legislation like the $1.2 trillion infrastructure bill Biden signed in 2021, will succeed where Trump’s tariffs did not.
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https://www.washingtonexaminer.com/news/white-house/3002358/biden-quadruple-tariffs-chinese-evs-outfox-trump/
