In a bold move aimed at safeguarding American workers and industries, US President Joe Biden has announced significant tariffs on various Chinese imports. This decision comes amidst concerns over unfair trade practices and the need for fair competition in the global market.
The newly imposed tariffs target a range of Chinese products, including electric vehicles, batteries, steel, solar cells, and aluminium. Notable among these tariffs are a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff each on electric vehicle batteries from China.
President Biden, speaking from the Rose Garden of the White House, emphasized the importance of fair competition, stating, “America can continue to buy any kind of car they want, but we’re never going to allow China to unfairly control the market for these cars. Period.”
Accusing the Chinese government of subsidizing industries to gain an unfair advantage, Biden asserted that these tariffs are necessary to prevent Chinese companies from flooding the market with products sold at artificially low prices, which harm manufacturers worldwide.
The move also marks a departure from the previous administration’s approach to China. President Biden criticized his predecessor, Donald Trump, for failing to increase American exports and manufacturing despite signing a trade deal with China. He accused Trump of wanting across-the-board tariffs on all imports from all countries, a policy that, according to Biden, would burden American families with increased costs.
US Trade Representative Katherine Tie supported Biden’s decision, highlighting the failure of the previous trade deal with China to achieve its intended goals. She emphasized the strategic nature of the tariffs, aimed at promoting fair competition while defending American workers from unfair practices by the People’s Republic of China (PRC).
The increased tariffs are expected to cover approximately USD 18 billion of trade, with a process underway to request exclusions for certain production machinery to support solar and clean manufacturers.
Tie also stressed ongoing consultations with allies facing similar challenges from Chinese trade practices, indicating a united front against unfair trade practices.
President Biden’s move to impose heavy import tariffs on Chinese imports underscores his administration’s commitment to protecting American workers and promoting fair competition in the global market.
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